Happy Tax Freedom Day! Monday, British Columbians start working for themselves. In other words, if we had to pay all our taxes up front, we would have to pay each and every dollar we earned from January 1 to June 5 to various levels of government.
This of course, translates into an awful lot of money. In fact, the average British Columbian family with two or more individuals will hand-over about $36,600 in taxes to their federal, provincial and local governments (42.7% of their income).
taxes
Juin 3, 2011
2:00AM
Février 23, 2010
2:00AM
When Ed Clark, TD Bank CEO, recently said that nearly all members of the Canadian Council of Chief Executives (a group composed of 150 of Canada's top CEOs) want the federal government to hike the GST to combat the deficit, he earned a quick rebuke from the Conservatives, who rejected his suggestion and referred to him in an email as the millionaire economic Czar to the Liberals. This in turn provoked responses from Liberal heavyweights including both Michael Ignatieff and former PM Jean Chretien.
Décembre 22, 2009
6:00PM
Earlier this week, Finance Minister Rosann Wowchuk kyboshed a Harmonized Sales Tax (HST) for Manitoba. Her reasoning: We don't think it makes sense to impose $405 million in new sales taxes. While such rhetoric might be good politics, it is terrible economics and worse, actually misrepresents the facts.
Mai 11, 2009
2:00AM
As we come to the end of another tax season, some Canadians will be eagerly awaiting an unexpected refund, while others will be frustrated by having to dig deep to pay an amount owing. For most Canadians, regardless of unexpected refunds or balances owing, the tax deadline provides a sobering reminder of just how much income tax they paid last year.