Does the Liberal promise expected soon to cut the lowest personal income tax rate by 1% to 14%, go far enough to help Canadians impacted by high costs?
The federal government is on the hunt for new tax revenue from Canada’s small businesses, mainly because of an erosion of the personal tax base and a significant shift of taxable income to the corporate tax base instead.
In July, we asked you to vote on the following question: Does CRA do enough to ensure Canadians understand income tax and GST/HST implications of flipping personal residences? (For example, taxable dispositions require repayment of new housing rebates.)
We may be in the dog days of summer, but before you know it teachers will be planning for the fall of 2017, and in the process may be spending their own money to buy new school supplies.
The Canada Child Benefit (CCB) and Goods and Services/Harmonized Sales Tax Credit (GSTC) are both calculated based on net family income from the prior tax year.
Does the Liberal promise expected soon to cut the lowest personal income tax rate by 1% to 14%, go far enough to help Canadians impacted by high costs?