Knowledge Bureau Poll: Tax Cut Doesn’t Cut It!

The Notice of Ways and Means Motion was released on May 27, but the 1% tax rate cut going into effect on July 1, didn’t cut it with Knowledge Bureau Report readers who responded to our May Poll.  A decisive 90% of respondents said “No” when asked: does the new government’s promise to cut the lowest personal income tax rate by 1% to 14%, (14.5% in 2025) go far enough to help Canadians impacted by high costs?  Here were their comments and suggested alternatives based on real life experiences with the after-tax income their struggling clients are left with:

The Honourable Jim Flaherty, Minister of Finance, issued the following statement recognizing Disability Awareness Week (May 26-June 1): "Disability Awareness Week offers Canadians an important opportunity to reflect on the varied and significant contributions that Canadians with disabilities make to our country each and every day, and the importance of helping to ensure that they and their families can participate to their fullest in the promise our country has to offer."

Did you know that small firms in the business sector create proportionately more jobs than large firms, especially in the early years of development?

From the late eighteenth century to the present day, solicitor-client privilege has been a topic fraught with varying levels of uncertainty, justification, and support.

Seniors have the option to defer starting their OAS pensions for up to five years (i.e. starting at age 70 rather than 65). 

We continue our Synthetic Dispositions series this week with a look at indebtedness in exchanges of property.

How would you help the victims of this tax crime?