Posts Tagged ‘tax’
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Are wealthy Canadians paying their fair share of taxes?
Our tax system has become the ultimate insider deal, in which the well-connected consistently rewrite the rules to escape the rational and just responsibilities that should be placed upon them by a progressive income-tax system in a democratic nation…If middle-class Canadians had the same attitude toward paying taxes that the people at the top did, our country would be just another bankrupt, basket-case banana republic. Democracy is not free, nor is it particularly cheap.
Tags: economy, ideology, standard of living, tax
Posted in Governance Debates | No Comments »
Ontario is complicit in precarious employment
Thanks to a complex web of loopholes, employers have offloaded much of the liability and risk of maintaining permanent staff to these temp agencies, which insulate them from the financial consequences of workplace accidents… higher premiums have no lasting consequences for a temp agency that can disappear with the click of a mouse and rebrand itself the next day… it’s not just precarious workers who face extra peril, but all taxpayers and businesses who pay a price for this sleight of hand by the unseen hand of temporary agencies.
Tags: budget, economy, featured, ideology, standard of living, tax
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Planned tax changes pit lawyers, bar association on opposing sides
“We lawyers – myself included – are a privileged group, and I am uncomfortable with the CBA leveraging that privilege to advocate for the personal financial benefit of a few,” said Emily MacKinnon, a lawyer at McCarthy Tetrault LLP, who started the petition. “The CBA’s job is to advocate for things that affect lawyers as lawyers, not to act as a tax lobby group.”
Tags: economy, ideology, standard of living, tax
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End of income sprinkling will affect one in eight small-business owners: study
… according to new research from the Canadian Centre for Policy Alternatives… small-business owners most likely to be affected by the tax-savings measure are male, professionals such as doctors or lawyers who make more than $216,000 a year and with spouses or adult children who don’t work… data from Statistics Canada and tax filers, showed income sprinkling was almost entirely benefiting wealthy Canadians.
Tags: economy, featured, ideology, jurisdiction, tax
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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?”
Tags: economy, ideology, standard of living, tax
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Should the loudest voices prevail on tax reform?
Why are 100 per cent tax rates OK for low-income seniors, yet many among the top one per cent become apoplectic when the finance minister proposes to bring their tax rates back in line with that of every other high-income individual? Of course, Morneau’s proposals are still a work in progress. This is a complex area of tax law, so consultation is clearly important. But the loudest voices are not neutral.
Tags: economy, ideology, participation, tax
Posted in Governance Debates | No Comments »
The problem with Trudeau’s high road
Apparently a lot of people who’ve incorporated are sensitive about having this gap between personal and small-business tax rates called a “loophole,” but what the heck: It’s a loophole, in the sense that it was never designed as a goal of public policy… If the government’s goal is fairness, then why can’t Morneau discuss the tax treatment of companies as big as his own?
Tags: economy, ideology, standard of living, tax
Posted in Governance Debates | No Comments »
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.
Tags: economy, featured, ideology, tax
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Doctors say tax us: Canada is worth it
Some of our medical colleagues feel angry and betrayed. They assert that… lower taxes for doctors are payback for the lack of pensions, parental benefits, child care, and other benefits… such concerns cannot justify an inherently unfair situation in our tax code, and especially one that worsens income inequality with adverse consequences for Canadians’ health… And we urge all physicians to support universal child care, pensions, and maternity benefits.
Tags: economy, featured, ideology, mental Health, standard of living, tax
Posted in Governance Debates | No Comments »
Know the dirty little secret about taxing the rich? It doesn’t work
… the annual financial report shed some light on why the party hierarchy is so dogmatic about the tax changes. The report revealed that personal income tax revenues dipped by $1.2 billion in 2016-17, reflecting the impact of the introduction of the 33-per-cent top income tax rate in 2016. Some high-income Canadians realized capital gains and dividends in the 2015 tax year to avoid the new rate; others pushed their income into more complicated tax-planning structures like private corporations.
Tags: budget, economy, ideology, tax
Posted in Governance Policy Context | No Comments »
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