NO TAX ON BANK BONUSES

"The Canadian government has always maintained that since banks in this country did not require taxpayer bailouts there is no need for it to step in and tell them how to pay their employees. However, because Canada is a member of the G20, banks here must abide by new G20 guidelines on pay, Mr. Flaherty says. The banks were given a deadline of March 2010 to implement the guidelines."