Why is Facebook advertising tax deductible when U.S. broadcast isn’t? Close the loophole, Friends tells Senate

By Denis Carmel

OTTAWA – In 1974, in the middle of the night, a truck crossed the border towards Canada. No, on board was not contraband, but what had been a North Dakota TV station, KCND, bought then by Canadian future media mogul Izzy Asper.A tax lawyer by trade, the late Asper likely knew he would benefit from a corporate tax disposition as a Canadian broadcaster, whereas advertising on an American TV station was not a deductible expense and remains so today.Tuesday morning, the Senate Transportation and Communications Committee heard a report commissioned by the Friends of Canadian Broadcasting which proposes the definition...