Equal Pay Coalition says women are done waiting.
Show Us The Money to close the gender pay gap.
TORONTO, April 09, 2018 (GLOBE NEWSWIRE) — Equal Pay Day is marked on April 10 because women need to work 15.5 months – 3.5 months into the new year – to earn what a man does in 12 months. Ontario’s gender pay gap is a human rights and economic crisis. The latest Census data shows that Indigenous women in Ontario face a 43% gender pay gap; racialized women: 38%; immigrant women: 34%. On average Ontario women face a 29.3% pay gap. (Census Canada data, Cat #98-400-X2016277)
On Equal Pay Day, the Equal Pay Coalition calls on the Ontario government to take bold, concrete action to close the gender pay gap.
“Women are done waiting” says Fay Faraday, co-chair of the Ontario Equal Pay Coalition. “It’s time to show us the money. Employers must be held to account and government must make it a real priority to eradicate the barriers to women’s economic equality.”
We call on the government to show us the money to close the gender pay gap by taking three steps:
- Implement a strong pay transparency law to enforce equal pay.
- Introduce fully funded universal, affordable, accessible public child care system for infant and school-aged kids with decent pay for childcare workers.
- Properly fund community agencies so workers delivering public services receive pay equity now.
For more resources and information, please visit:
Protect your OMERS pension plan. It’s time to take ACTION!
OMERS just had another high performing year.
• Investment returns of a net 11.5 per cent – almost double required discount rate of 6.2 per cent and well above the strategic rate.
• 2017 earnings of $9.9 billion were used to both lower next year’s discount rate and increase the plan fund.
• The plan holds more than $95 billion in assets
Yet some at the Sponsors Corporation want to get rid of key benefits like guaranteed indexing. We can’t let that happen.
Let OMERS know we must keep key benefits like guaranteed indexing so we can keep up with cost-of-living increases and live with dignity after we retire.
Send them a message by clicking on the link below.
“Good pensions are not just important for retirees,” says Hahn. “Good pensions are critical for the economic health of our communities. They allow our aging population to live with dignity and continue to contribute to their local economy. That’s why these strong returns are good news, and why it’s vital that OMERS stop any consideration of removing the indexing guarantee.”
Historically, OMERS has out-performed most other public sector pension plans. The plan weathered the 2008 financial crisis better than most and is well ahead of target for coming back into balance – all while maintaining guaranteed indexing.
“CUPE’s representatives on the OMERS boards have been working to ensure the interests of plan members are at the forefront of every plan decision,” says Hahn. “We believe strongly that the discussion around removing guaranteed indexing is unnecessary and short sighted. We will continue to do everything we can to make sure it doesn’t happen.”
For more information, contact: Sarah Jordison, CUPE Communications, 416-578-5638
Monday, September 11, 2017
Canada’s unions are welcoming the federal government’s plan to close tax loopholes for very high-income earners, saying it’s an important first step toward bringing more fairness to Canada’s tax system.
“Today’s tax rules make it possible for someone earning $300,000 to save more on their taxes than the average Canadian worker makes in a year, and that is fundamentally unfair,” said CLC president Hassan Yussuff.
Current tax rules allow wealthy Canadians, especially self-employed professionals, many of whom are lawyers, doctors, dentists and accountants, to pay less in personal income taxes by setting up CCPCs – Canadian-controlled private corporations. The federal government wants to address three ways CCPCs are used to avoid higher tax rates:
- Income “sprinkling”: High-wage earners who own CCPCs can split – or “sprinkle” – their income among lower-income family members, paying them salaries or dividends (even though they often don’t actually work for the company) to take advantage of their lower tax rates. This is not something other working families can do.
- Exploiting capital gains: High-income earners who own CCPCs can pay themselves in capital gains – only 50 percent of which are taxed at the personal tax rate – instead of dividends, which face higher taxes.
- “Passive” investing: CCPCs offer the wealthiest Canadians another tax advantage others don’t have access to: more capital for their investment portfolio. Many CCPC owners are parking income in their business so it’s taxed at the lower business rate, leaving them more capital to invest in “passive” investments like mutual funds. But lower tax rates for businesses are meant to encourage reinvestment and job creation, not to help the wealthiest Canadians make more out of their retirement portfolios.
“This kind of tax avoidance is costing the federal government as much as $500 million a year,” said Yussuff. “Taxes pay for the vital services that we all rely on, from physical security and food safety, to health care and education and disaster relief, and Canadians expect everyone to pay their fair share.”
Further reforms are needed
These measures are an important first step, said Yussuff, but he hopes more are in the works to make Canada’s tax system truly fair.
“We need to ensure that the the top one percent and corporations pay their fair share too, which means a more aggressive clamp-down on tax havens and corporate tax dodging,” he said.
That would include:
- Eliminating regressive and ineffective tax loopholes by cancelling stock option deductions, fully including capital gains in taxable income, and cancelling the flow-through shares deduction.
- Taxing foreign e-commerce companies to level the playing field for Canadian providers.
- Increasing taxes on banks and finance, which have received windfall profits from corporate income tax cuts over the last decade and a half.
- Introducing wealth taxes and making income taxes more progressive.