Canada Taxes

Prentice is Wrong about Alberta's Single Tax

Mark Milke | Posted 03.29.2015 | Canada Alberta
Mark Milke

Earn $17,787 in Alberta and you'll pay nothing in provincial income tax. Earn $50,000 and 6.4 per cent of your income is tax ($50,000 minus the $17,787 exemption; the 10 per cent tax is paid on the remaining $32,213). Earn $100,000 and 8.2 per cent of your income is tax. There's a word for such sliding proportions of tax paid: progressive.

Do You Understand 'Employment Expenses' on Your Tax Return?

Caroline Battista | Posted 03.11.2015 | Canada Business
Caroline Battista

There are a wild variety of employment expense claims that tax-filers make. Dry cleaning and teeth-whitening for on-air performers? Doesn't fly. My favourite may be the repairman whose employer demanded a bi-weekly haircut. He took his case to Tax Court, and lost. But it definitely showed determination.

Breaking Down Calgary's Property Tax Increases

Mark Milke | Posted 02.09.2015 | Canada Alberta
Mark Milke

Once again, Calgary city council has raised property taxes beyond the rate of inflation. No surprise. Over the past seven years, only once, in 2007, has council approved a tax increase below Calgary's inflation rate. The latest hike, 4.5 per cent in residential property taxes for 2015, is triple the average annual Statistics Canada inflation rate for the 2010-2014 period in Calgary

What France Can Learn From Canada's Economy

Mark Milke | Posted 02.09.2015 | Canada Politics
Mark Milke

France's economy saw only a weak rebound after 2009 with real GDP growth rates of about two per cent in both 2010 and 2011 before slowing to a crawl with only 0.3 per cent growth in 2012. In comparison, Canada positively raced ahead, experiencing real GDP growth of 3.4, 3.0 and 1.9 per cent in 2010, 2011 and 2012 respectively.

This Tax Tip Will Make You a Philanthropist and Stone-Cold Capitalist

Kevin O'Leary | Posted 04.17.2015 | Canada Business
Kevin O'Leary

A lot of people love to give to not-for-profits during the holidays, which is great. On the other hand, as a stone-cold capitalist, I'm morally obligated to make the most of every dollar I spend or donate...and lucky for you, Uncle Kevin's here to help you do the same.

Feds Hound Senior With Dementia, Parkinson's For $12K In Taxes

CBC | Posted 02.03.2015 | Canada British Columbia

The Canada Revenue Agency is demanding thousands of dollars from a B.C. senior, who suffers from dementia and Parkinson's disease, for failing to decl...

Prentice's Path: Getty or Klein?

Charles Lammam | Posted 02.02.2015 | Canada Alberta
Charles Lammam

The key question for the new premier is: will he follow the lead of former Premier Don Getty--and raise taxes as both the premier and finance minister are hinting--or Ralph Klein, who controlled spending and reduced taxes? The answer will affect the fortunes of all Albertans.

Salary vs. Benefits: How to Create a Tax-Smart Plan

Caroline Battista | Posted 01.04.2015 | Canada Business
Caroline Battista

Your work-life balance is a concern, but so is your taxable income. Perhaps your new salary puts you into a higher tax bracket, and 40 per cent of your raise will be going to the government. Is the promotion worth it?

Harper's Income Splitting Is a Missed Opportunity

Charles Lammam | Posted 01.02.2015 | Canada Business
Charles Lammam

By allowing households to move income from one spouse facing higher rates to the other spouse, income splitting is one way to help fix this distortion. Income splitting, however, does virtually nothing to improve economic incentives or Canada's competitiveness. Therein lies the missed opportunity.

There's Good Reason to Monitor Government Spending

Mark Milke | Posted 11.26.2014 | Canada Politics
Mark Milke

Too many use Orwellian language to propose something contrary to the public good. But, considering the reality of power, the term "taxpayer" helps people focus on the real cost of political decisions that favour a narrow interest, ones which can injure the good life for everyone else.

Charity Lesson From the Scottish Referendum

Blake Bromley | Posted 11.23.2014 | Canada Politics
Blake Bromley

The referendum in Scotland demonstrates the risks of England denying tax benefits to charities which promote indigenous Scottish values. Canada should have the self-confidence to respect the values and purposes which emanate from Quebec's people and legislature when granting tax benefits to registered charities.

Althia Raj

Harper And Tories May Cut Taxes Sooner Than Expected

HuffingtonPost.com | Althia Raj | Posted 09.15.2014 | Canada Politics

OTTAWA — The Conservative government may announce personal tax cuts as early as this fall, Prime Minister Stephen Harper suggested in a speech Mond...

Nova Scotia Opts for High Taxes Rather Than Fracking

Mark Milke | Posted 11.09.2014 | Canada Politics
Mark Milke

From the fur trade to fisheries and forests, Canada was built on the toil and sweat of those who wanted to prosper. But these days, it's harder to create opportunity. And sometimes, government is to blame. The latest example comes from Nova Scotia.

Why I'm Willing to Pay More Taxes for Mental Health Services

Amanda Reaume | Posted 11.07.2014 | Canada Politics
Amanda Reaume

In Canada, I quickly realized, depression is one of the only life-threatening illnesses that you have to be rich to get proper treatment for. Since 1961, Canadians have taken care of our neighbours, our family, and our friends if they have illnesses like heart disease, or diabetes. But if they're suicidal or depressed? We've basically said tough luck -- deal with it yourself. This while more people are actually suffer from mental health issues each year then heart disease and diabetes combined.

Is Taxation a Migration Driver?

Salman Sakir | Posted 11.02.2014 | Canada Business
Salman Sakir

The recent merger of Burger King and Tim Hortons shows how tax policies may affect the movement of companies.

Quebecers Want to Fight Climate Change But Worry About the Bottom Line

Michel Kelly-Gagnon | Posted 10.29.2014 | Canada Business
Michel Kelly-Gagnon

Quebecers want to fight climate change. But according to a new Léger Marketing poll, they're also concerned about the economic costs of doing so.

How the Government's Interest Payments Are Costing You

Sean Speer | Posted 10.22.2014 | Canada Politics
Sean Speer

Governments must make interest payments on their debt similar to families who pay interest on borrowing for mortgages, vehicles, or credit card spending. These interest payments leave fewer resources available for important priorities such as tax relief and spending on public programs such as health care, education, and social services.

Lighting Brighter: 6 Effect of Smart Sustainable Lighting

University of Toronto News | Posted 10.13.2014 | Canada
University of Toronto News

Walk into a hardware store these days and you'll find more varieties of light bulbs than ever before. Some may look a bit strange and cost a bit more...

Keep Health Warnings Off Junk Food

Michel Kelly-Gagnon | Posted 10.05.2014 | Canada Business
Michel Kelly-Gagnon

The tendency for governments to increasingly regulate the advertising industry, whether in the name of consumer protection or for health concerns, is already on full throttle. After cigarette packs, don't be surprised if sooner or later you see plain bags of chips on the shelves of convenience stores, or plain-packaged chocolate bars. Politicians stand on a steep, slippery slope that could lead to private property and intellectual property violations, and destruction of brands. The economic consequences should be weighted carefully. And such policies backed by solid empirical data, not merely good intentions.

Tax Increases Don't Always Mean More Money for the Government - Even on Cigarettes

Michel Kelly-Gagnon | Posted 10.01.2014 | Canada Business
Michel Kelly-Gagnon

It is true that smoking is a major public health concern, and one might be tempted to say that the change in behaviour is desirable, whatever the effect on government revenue. Again, Laffer tells us that things are more complicated than it seems. While it is true that some people are deterred from smoking by tax increases, this is not the case of all smokers.

The CRA Should Not Define Poverty's Threshold

Murtaza Haider | Posted 09.24.2014 | Canada Business
Murtaza Haider

The Canada Revenue Agency (CRA) has recently forced Oxfam Canada to exclude "preventing poverty" from their mission statement in order to keep their charity status. Now a fundamental question needs to be answered. Why does the CRA think that charities have to wait for individuals to fall into poverty's trap before the charities can help the disadvantaged? Isn't prevention better than a cure? The bigger concern, however, is with a black-and-white definition of poverty. The assumption that one is not poor one day, but wakes up to be poor the next day is completely flawed.

Ontario's Proposed Budget Is a Step in the Right Direction

Dennis Howlett | Posted 09.16.2014 | Canada Politics
Dennis Howlett

Restoring the corporate tax rate would be a good start. When Ontario began cutting that rate in 2010 it was based on an idea that companies would use the savings for job creation and to develop new markets and products. That has not panned out. Instead Canadian corporations are sitting on $600 billion of hoarded cash that benefits very few.

How Taxes Could Affect the Leafs and Senators Next Season

Sean Speer | Posted 08.27.2014 | Canada Business
Sean Speer

There's a lot of speculation that the Ottawa Senators and Toronto Maple Leafs will be active this free agent season. Both teams failed to make the playoffs last year and will likely pursue new players to get them back into contention. But taxes can be a roadblock to attracting new talent.

Want a Middle Class? Imitate Alberta and Saskatchewan

Mark Milke | Posted 08.16.2014 | Canada Business
Mark Milke

There has been much hand-wringing over the claimed disappearance of the middle class. At the national level important policy such as a stable currency and domestic peace matter to the creation of prosperity and the formation of the middle class. But domestically, consider one issue -- tax rates -- that can be easily compared across provinces and which has an effect upon wealth creation and thus opportunities and jobs.

Are You Happy Working for the Government Until June 9?

Charles Lammam | Posted 08.10.2014 | Canada Politics
Charles Lammam

No one really thinks we should abolish all taxes. After all, how would governments fund important public services that form the foundation of our econ...