Canada's credit unions will see their federal taxes increase under the country's 2013 budget released this week, according to Credit Union Central of Canada, the industry's national trade association.
The increase comes as the result of a five-year phase out of a tax provision designed to help credit unions compete with big banks.
"We were surprised that Budget 2013 targets credit unions in this way," said Gary Rogers, Canadian Central's vice president, financial policy.
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