In 2011, Canadians for Tax Fairness calculated that the public was losing $81 billion a year in revenue generated by what it called the shadow economy.
And in a recently released document, federal finance department estimates indicate that legal loopholes known as tax expenditures will cost the treasury roughly $120 billion this year alone.
Finance Minister Bill Morneau is contemplating whether he should close some of these loopholes. Yah, "contemplating".
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