Posts Tagged ‘tax’

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Eight Solutions to Canada’s Housing Crisis

Monday, December 12th, 2016

The first step is the simple commitment to get it done. The federal government has opened the dialogue with its Let’s Talk Housing initiative and will be publishing a national housing strategy in 2017… Solution 1: Restrict foreign ownership and end tax evasion… Solution 2: Use municipal powers… to require developers to make 30 per cent, 50 per cent, or 100 per cent of new units of a development affordable and family-friendly, creating mixed-income communities.

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The tax man eyes the One Percenters in white coats as doctors’ pay keeps climbing

Monday, December 12th, 2016

There are several ways in which small businesses can be used to shield income from personal income taxes. Since income taxes are only paid on the salaries the owners pay themselves, revenues can accumulate in CCPCs at the much lower small business tax rate that applies to profits less than the $500,000 threshold. There are several ways that this money can be accessed without paying taxes at the top personal income tax rate.

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How to sell taxes to Canadians? Show them why they should care

Sunday, December 11th, 2016

Over the past decade, we have consistently found that about two-thirds of Canadians say taxes are mostly a positive thing, because they pay for important things such as health care, education and roads… If you need to introduce a fee or tax and your goal is public acceptance, then there needs to be a credible – or at least plausible – case that it will pay for something that taxpayers care about.

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The cost of poverty affects us all

Wednesday, December 7th, 2016

… the biggest barrier to ending poverty is the political orthodoxy we have lived by for the past 40 years: that good government is small government, that social programs must shrink, and that taxes are evil. It is over this period we have seen the most dramatic rise in poverty rates and income inequality… I’d be more than happy to pay more taxes if I knew that money would help my community to be healthier and happier.

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Out of the Shadows: Shining a light on Canada’s unequal distribution of federal tax expenditures

Tuesday, December 6th, 2016

This study finds that Canada’s personal income tax expenditures disproportionately benefit the rich and cost the federal treasury nearly as much as it collects in personal income tax. The study examines the income distribution of benefit for the 64 personal income tax expenditures for which there is available data. Out of the 64 tax expenditures, 59 of them provide more benefit to the top 50% of income earners than the bottom half, with the largest share going to the richest 10%. The cost of those 59 expenditures totalled $100.5 billion in 2011 alone.

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Doctors warn thousands could leave for U.S. over new federal tax hikes

Thursday, December 1st, 2016

An aggressive lobbying campaign by doctors, radiologists and other medical professionals has failed to sway Finance Minister Bill Morneau, who is rejecting calls to remove a provision in the budget that doctors say will force them to pay tens of thousands more a year in taxes.

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Why this economist thinks government intervention is a good thing

Wednesday, November 30th, 2016

TheGlobeandMail.com – ROB/Magazine Nov. 28, 2016.   PAUL WALDIE Mariana Mazzucato is part of a new wave of economists—passionate, outspoken and determined to make the case that governments have an important role to play in the economy. The Italian-born Mazzucato, who is a professor of the economics of innovation at the University of Sussex in England, […]

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Ottawa should stop wasting billions on stock benefits for the rich

Sunday, November 20th, 2016

Since its introduction in 1984, the loophole has primarily benefited the very rich at a great cost to the public purse… Despite the tax break’s stated purpose, its beneficiaries are not primarily the employees of small, risky start-ups. They are, for instance, top bankers or the heads of mining and telecommunications corporations, the richest of the rich. In fact, more than 90 per cent of the benefit goes to the top 1 per cent of earners.

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It’s time for big cities like Toronto to get new taxes

Saturday, November 19th, 2016

In a new paper published by the Institute on Municipal Finance and Governance, we make a case for a bolder commitment — giving cities like Toronto access to more taxes, to bring them in line with many large U.S. and European cities… Although the property tax is a good tax for local governments and could be increased in many Canadian cities, additional taxes would give cities more flexibility to respond to local conditions.

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Big Pharma vs Everyone

Tuesday, November 15th, 2016

Gagnon suggests a far bolder strategy for governments and employers intent on reining in the insurers and the drug companies. “Canada is the only OECD country with universal public health care that does not also have a pharmacare plan,” Gagnon observes. “If we want sustainable public drug plans, and affordable drugs for everyone, we should join them.”

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