Will the PEI government fix the bracket creep loophole?

Bracket creep has cost taxpayers too much for too long

Will the PEI government fix the bracket creep loophole?If a business overcharged you by $450, you might want an explanation. The least that business could do is stop overcharging you in the future. Prices for everything from groceries to gasoline are going up fast enough without overcharges on top. Prince Edward Island MLAs owe Islanders an explanation about their income tax bills. The…

Trudeau looking at a wealth tax to pay for soaring spending

Its impact on the overall economy means everyone will suffer

Trudeau looking at a wealth tax to pay for soaring spendingPrime Minister Justin Trudeau is eyeing a wealth tax to pay for his government’s spending spree. Heavily redacted documents obtained by the Canadian Taxpayers Federation show Trudeau asked for an analysis of a $60-billion wealth tax. With indefinite deficits looming, it must be tempting to grab that cash. But a wealth tax would inflict economic…

With high inflation, capital gains are overtaxed even more

High inflation distorts the application of the capital gains taxes that many of us pay

With high inflation, capital gains are overtaxed even moreBy Valentin Petkantchin and Olivier Rancourt Montreal Economic Institute The 5.7 per cent year-on-year inflation Canada registered in February has not been seen since the early 1990s. Expansionary monetary policies and the economic sanctions accompanying the Russia-Ukraine war suggest that significant inflation is here for a while. High inflation not only erodes our purchasing power,…

Why cutting Alberta’s gas tax doesn’t offer real relief

Focus on sustainable solutions rather than on short-term ones with strings-attached

Why cutting Alberta’s gas tax doesn’t offer real reliefThe Alberta government stopped collecting its fuel tax at the beginning of April in an effort to provide “real relief” to Albertans impacted by rising fuel and inflationary costs. The tax cut saves motorists up to 13 cents per litre on gasoline and diesel but reduces the provincial revenues by approximately $1.3 billion (nearly three per…

Politicians should look to tax relief to boost affordability

Ontarians need relief, and they need it urgently

Politicians should look to tax relief to boost affordabilityAffordability is the elephant in the room as Ontario approaches this June’s provincial election, and it’s time for Ontario’s politicians to address it before they get trampled. All three of Ontario’s major political parties plan to speak to the issue of affordability in their platforms. The Ford government has been busy eliminating user fees for…

Trudeau’s spending spree hitting Canadians families hard

The federal debt is now over $1.26 trillion!

Trudeau’s spending spree hitting Canadians families hardBy Gabriele Giguère and Olivier Rancourt Montreal Economic Institute The Bank of Canada’s decision to increase the policy interest rate by 0.5 percentage points, up to one per cent, was necessary in the current context. The soaring inflation that is hitting the Canadian economy full force, reaching 5.7 per cent in February, must be reined…

Spending public money on stadiums simply robs taxpayers

It takes from the poor and middle class and gives to the rich

Spending public money on stadiums simply robs taxpayers“The NFL is the richest sports franchise, full of billionaire capitalists demanding socialist handouts so they can make even more profits.”         – Ralph Nader The billionaire owners of the National Football League’s Buffalo Bills, Terry and Kim Pegula, have landed US$850 million in taxpayer dollars for the construction of a new…

Liberal-NDP deal will mean major tax hikes

When it comes to wealth taxes, Trudeau needs to draw a line in the sand

Liberal-NDP deal will mean major tax hikesNow that the years-long Liberal-NDP courtship has turned official, Canadians should brace themselves for an unwelcome raft of higher taxes and unsustainable spending. With Prime Minister Justin Trudeau inking a deal with the NDP to keep him in power until 2025, Canada’s finances are headed from bad to worse. To help justify overspending, the Trudeau…

How the case for carbon taxes falls apart

Economist Steve Ambler says carbon taxes ‘make everything more expensive’

How the case for carbon taxes falls apartA leading Canadian economist says the case for carbon taxes is limited, with its proponents delivering more rhetoric than reality. In an interview, Steve Ambler, an economics professor at the University of Quebec at Montreal, gave an excellent analysis of one of Canada’s most controversial taxes. He disagrees with a Supreme Court verdict that called…

Excess sugar costs Canada $5 billion each year: study

Researchers urge use of taxation, education and subsidies to encourage better eating habits

Excess sugar costs Canada $5 billion each year: studyImagine if the real cost to society of the food you buy at the grocery store was built right into each product’s price. Everything with added sugar would cost a whole lot more, according to University of Alberta researchers in a new study in The Canadian Journal of Public Health. They peg the economic burden of excessive…

Inflation is increasing PEI families taxes again

Prince Edward Island has to stop digging into Islander families’ pockets

Inflation is increasing PEI families taxes againThe government of Prince Edward Island seems happier to acknowledge inflation’s impact on your wallet than to do something about it. Prince Edward Island is one of only three Canadian provinces – along with Alberta and Nova Scotia – that does not index any tax brackets to inflation. As a result, the tax code pushes…

Nova Scotia taxman should put an end to bracket creep

It is eroding Nova Scotians’ disposable incomes

Nova Scotia taxman should put an end to bracket creepIf your take-home pay was cut by $75 this year, would you notice it? It’s $2.88 per paycheque. You might not notice. But if it goes up every year, it quickly snowballs. Surely you’d notice if your take-home pay was $1,334 smaller … That’s exactly how the government of Nova Scotia has been increasing your…

Ford needs to take a lesson from Alberta

Alberta has reduced its gas taxes by 13 cents a litre

Ford needs to take a lesson from AlbertaOntario Premier Doug Ford is sitting on his hands while Alberta Premier Jason Kenney is delivering relief for taxpayers. Earlier this week, Kenney announced his government would cut provincial gas taxes by 13 cents per litre in the face of skyrocketing oil prices. For a family filling up their minivan, Kenney’s tax cut means nearly…

Record high gas prices in Alberta signal need for carbon tax relief

Enough with the political excuses and inaction

Record high gas prices in Alberta signal need for carbon tax reliefIf you’ve had to drive your kids to hockey, go grocery shopping or commute to work, you’ve likely cursed every time you saw the price at the pump. Gas prices have now reached a high of over $1.50 per litre. That’s the highest level since Statistics Canada started tracking this data in 1990. Higher gas…
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