• Suggestions for Morneau’s tax changes

    These proposals will result in a massive tax increase, primarily from one amendment that has not received much attention. This is the increase in the tax on death because of the elimination of the “pipeline strategy: ” The tax payable following the death of an individual who owns shares of a private company increased by 20 percentage points or more… how do we appease this anger, move forward in a sensible manner, protect the Canadian economy and put an end to the rhetoric surrounding the so-called “loopholes?”

  • $90,000 income means you’re upper middle class—regardless of where you live

    … an income of $90,000 per year would put you at the 90th percentile of the Canadian income distribution — that is to say, 90 per cent of tax filers had incomes below $90,000… there are many things to consider in debates about socio-economic status. But for the upper middle class, it still all comes down to income.

  • With proposed Liberal reforms impacting less than 10% of small businesses, this tax revolt will fail

    The Liberals are intent on changing the rules that allow small-business owners to defer taxation by using private corporations to make passive investments… as will become clear when the government releases its refined proposal later this fall, very few individuals in these categories will be affected.

  • Income grows in resource-rich provinces, Ontario and Quebec lag behind

    All told, 4.8 million people in Canada were considered as living in low income in 2015, compared with 4.3 million in 2005. Though the rate was little changed, the poverty shifted among regions and age groups. More seniors are living in low income, while the share of the youngest children in low-income households fell. The rate of seniors in low income climbed to 14.5 per cent from 12 per cent a decade ago. By province, low-income shares… rose to 14.4 per cent from 12.9 per cent.

  • Canadian incomes jump, Ontario residents hit by manufacturing downturn: Statistics Canada

    Canadian incomes have risen by more than 10 per cent over the last decade, fuelled by a booming resource sector, while the number living on low incomes is rising in Ontario where growth has been sluggish, Statistics Canada says… the downturn in the manufacturing sector slowed income growth and the proportion of low-income residents has been on the rise… Across Ontario, 14.4 per cent of residents — some 1.9 million people — were low income in 2015, an increase from 12.9 per cent in 2005.

  • Good jobs improve health and profits

    Bill 148 plans to increase the minimum wage to $15/hour and guarantees 10 personal emergency leave days a year (of which two are paid) for all Ontario workers, among other measures. These are exactly the types of policies we need to start seeing more of, and it is wonderful to see businesses also advocating for a healthy workforce and a healthier Ontario.

  • Ontario must toughen law to protect temporary workers

    … as it stands now hiring through temp agencies limits companies’ liability for accidents on the job, reduces their responsibility for making sure that employees’ legal rights are respected, and cuts costs — all at the expense of workers’ safety and earnings. The legislation now before the Ontario legislature does not address these concerns. As a result, the growing trend toward hiring temp workers — creating an increase in precarious work — may continue unabated.

  • Ontario to sell cannabis at government-run stores, online

    Despite calls from many premiers for more guidance on the file, the federal government has committed to legalizing the recreational use of the drug by July 1. But, to date, Ottawa has indicated that it will leave the contentious issues of regulating the wholesale distribution and retailing of cannabis up to the provinces and territories.

  • Why you should care that our civil-justice system is broken

    … in order for our economy to function properly, people need to believe that contractual, property and other legal rights mean something. But they can only mean something if they are enforceable… From a purely economic, risk-management perspective, a civil claim worth less than $75,000 (and that figure is probably low)… is rarely worth fighting to a final determination. In most cases, the potential recovery is simply not large enough to justify the risk.

  • Tax changes are about levelling the playing field

    As more and more people set up corporations, there is a growing number of individuals who have access to tax advantages not available to other hard-working Canadians. This means that some of the highest-income earners are effectively being taxed at a much lower rate than everyone else. It is legal, but as a former business owner and high-income earner myself, I do not think it is right.