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Canada's tax code has become just as absurd as something out of a comic book. Layers of political pandering and unintended policy outcomes have made tax rules a complex labyrinth that produce virtually random results. Is your tax bill higher or lower than last year? Let's flip a coin.
Saving is a simple concept in some sense. You do without now so that you can have something you need or want later. The incentive to save now is the later reward. But what is the reward that the B.C. Liberals have in store for us after "saving" taxpayers' money for the past 14 years?
B.C. may very well have some of the lowest personal income tax rates in Canada, but that doesn't mean the lowest tax bill. So doing that "lowest personal income tax" thing is a cute trick, but at the end of the day it's a trick. And not a particularly empathetic one.
This revenue -- which doesn't include corporate taxes, property taxes, sales tax or a myriad of other taxes B.C. residents are charged -- pays for things that benefit people far outside the Canuck dressing room. The Canuck players' income tax bill alone covers roughly the cost of 600 young teachers - or 425 Vancouver police officers.
One item sorely missing from the B.C. finance minister's recent budget was a plan to make the province's business taxes more competitive and attractive for investment. When the province shifted back to the PST last year, the cost of doing business and investing increased dramatically. Disappointingly, de Jong's budget did nothing to address this shackle around BC's economy. Tax reform, however, might be the light at the end of tunnel.
Our beautiful landscape, outdoorsy way of life, and mild weather can only overcome a certain amount of taxes. People are already beginning to vote with their feet, leaving our province for greener pastures -- another spin that will continue to speed up if the BC Liberals do not reverse course.
No matter what, on April 1, the HST finally moves on, and we can get on with our lives. Sure, she'll be mentioned from time to time and we'll no doubt stumble across her once in a while on Facebook or Twitter, but we're finally breaking up, and we are never, ever, ever getting back together.
VANCOUVER - A left-leaning think tank says if the B.C. government raised taxes to the levels collected in 2000, it would wipe out the deficit and have lots of money left over for public services.The C...
Governments can and do cut income tax rates for a variety of political reasons, while simultaneously raising fees on a dizzying array of other services to offset those cuts. Somehow they can do both at the same time with a straight face. A toll here, a casino there and the B.C. government is doing its best to find more-and-more imaginative ways of picking our pockets without hiking income tax rates.