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:

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Canada’s corporations have indeed increased the amount of cash on their balance sheets but it is a survival strategy, not an avoidance strategy, says the C.D. Howe Institute.

A number of recent numbers from Statistics Canada testify to gently improving economic conditions.

The Bank of Canada has advertised the position of governor, which will become vacant in June when the present governor, Mark Carney, departs for the Bank of England.

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