19:12:56 EDT Sun 28 Apr 2024
Enter Symbol
or Name
USA
CA



Toronto-Dominion Bank
Symbol TD
Shares Issued 1,774,766,030
Close 2024-01-18 C$ 80.20
Market Cap C$ 142,336,235,606
Recent Sedar Documents

Globe says TD, others unhelpful on carbon tax rebates

2024-01-18 09:09 ET - In the News

Also In the News (C-BMO) Bank of Montreal
Also In the News (C-BNS) Bank of Nova Scotia
Also In the News (C-CM) Canadian Imperial Bank of Commerce (CIBC)
Also In the News (C-RY) Royal Bank of Canada

The Globe and Mail reports in its Thursday edition that support for Canada's carbon tax for the control of greenhouse gas emissions appears to be crumbling. Guest columnists Leslie Shiell and Jay Batu write that 42 per cent of those polled want the carbon tax abolished. Yet exempting natural gas from the carbon tax, or eliminating the tax altogether, would actually harm most households. That is because the proceeds from the tax are pooled and then rebated to households in the jurisdiction in which they are collected (British Columbia and Quebec have their own programs). The writers note that research shows most of the population receives more back in the rebate than they pay in the carbon tax, and this is especially true at middle- and lower-income levels. For the many recipients who receive the rebate as a direct deposit in their bank accounts, there is clearly a labelling problem. Most banks use unhelpful descriptors. Only one, RBC, has followed the government's guideline for the deposit label, with "Climate Action Incentive CANADA." The remaining seven banks -- TD, Scotiabank, BMO, HSBC, CIBC, Tangerine and Simplii -- are uninformative regarding the nature of the deposit. TD, for instance, calls it "Canada CAI."

© 2024 Canjex Publishing Ltd. All rights reserved.