This has to be one of the worst bits of taxation reporting I’ve ever read. If you are a Canadian (and likely American, or English, or French, or really a citizen of Planet Earth that files a tax return) and you contribute to a pension, or pay for childcare expenses, or pay mortgage interest (in America, specifically, I think), then you also have deducted expenses to reduce your tax owing. Deductions aren’t loopholes.

I’ve seen a variety of spots recently where folks consider cash outflows as “expenses” or “expenditures”, rather than the more accurate categorization of “capital” and “current”. This misunderstanding has led me to the question: If this is how folks interpret financial definitions, how bad were the/are the misunderstandings regarding the COVID-19 pandemic? Capital and current are pretty simple concepts. Now throw in complicated medical terms and there is major cause for concern.