Tax Cuts

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Is Canada's Financial Cupboard Really Bare?

The Liberals' primary planned revenue generator is the increased tax rate for Canadians in the upper income tax bracket but it's coupled with a one-and-a-half percent cut for middle income earners. They originally claimed that these measures taken together would add $3 billion to the federal coffers. However, they're already backing away from that rosy prediction.
CP

The Budget Tricks Us With Tax Cut Treats

The big spending on the income splitting tax break, combined with the impact of lower oil prices has already left only a razor-thin balance and the Parliamentary Budget Officer predicts the budget will slip back into deficit in the next few years. Since it is no secret that this budget sets the stage for the upcoming federal election it is time for us to take a long hard look at the people we elect. We should not allow ourselves to be tricked by tax cut treats but think about who offers a plan for the future. Legacies take guts.
michaklootwijk

Will the Government Eliminate Capital Gains Tax?

By doubling the maximum contribution for a Tax-Free Savings Account (TFSA), which would therefore jump to $11,000 a year according to rumours surrounding next Tuesday's budget, the federal government is doing more than just encourage saving; it's taking a step toward the de facto elimination of the capital gains tax on financial investments for the great majority of Canadians.
ASSOCIATED PRESS

Harper's Income Splitting Tax Only Benefits the Already Rich

Tax policy may not be sexy. But it can change things for the better. Or make them worse. The current system exacerbates the problem of growing income inequality, which is now recognized by a growing number of economists as one of the main causes of our stagnant global economy. Once again this looks like a case of politics trumping the facts. The Harper government is proceeding with this give away to the rich even before the budget is balanced and despite warnings that the fall in the value of oil could mean revenue shortfalls.

Not All Tax Cuts Are Good Tax Cuts

Our view, which we developed in a recent study entitled Tax Payers and Tax Takers, is that tax relief that results in larger and larger shares of the population being exempt from paying any meaningful taxes leads to more demand, not less, for government.
CP

How Cutting Taxes Actually Helps the Economy

Two aspirations for Ontario -- to be the engine of Canadian jobs again and to have world-leading public services -- are interdependent, not separate, goals. We can't have one without the other. And Ontarians deserve both. Instead of grants and handouts to the politically connected, I believe tax cuts create jobs. Tax relief creates jobs, grows the economy, and stimulates new business investments.