The Alberta Project - Mark Carney VS CRA ─ Who Will Win？

Length

1 minute

Words per minute

149.42

Word count

167

Sentence count

Summary

Mark J. Kearney and the Canadian Revenue Agency are locked in a battle over whether or not Brookfield should be audited by the Canadian Tax Agency. Who will win? Brookfield or the CRA? Subscribe to our new bi-weekly financial news podcast, Finance Weekly, where I break down everything financial! Subscribe today using our new podcast s promo code: "ELISSA" for $5 off your first month!

Transcript

00:00:00.000 Mark J. Kearney versus a tax audit from the Canadian Revenue Agency. Who will win?

00:00:06.540 Brookfield manages over $900 billion in assets, much of it funneled through its various subsidiaries.

00:00:13.520 Through its large business audit program, the CRA can review foreign affiliate income and offshore

00:00:19.300 trusts, which would bring under question Brookfield's Cayman Islands and Bermuda Shell offices.

00:00:24.760 They can also assess whether employee income was allocated to lower tax or even no-tax jurisdictions, such as Bermuda.

00:00:33.460 Brookfield's main bread and butter is their investments in green and renewable energy firms.

00:00:38.460 It prides itself as being in line with environmental, social, and governance principles, also known as ESG.

00:00:45.600 It might be the case that Brookfield may have overstated their strides in cleantech,

00:00:50.020 which would give them tax credits, or in other words, greenwashing their tax filings.

00:00:55.400 That does not fly well with the CRA at all.

00:00:58.660 But remember, everything that I've said thus far is purely fictitious and hypothetical

00:01:05.000 and has never occurred in real life.

The Alberta Project - June 25, 2025

Mark Carney VS CRA ─ Who Will Win？

Episode Stats

Summary

Transcript