Fraser Institute- Canada’s Rising Personal Tax Rates and Falling Tax Competitiveness, 2024
Comparing the provinces with 51 US jurisdictions (includes all states and Washington DC) shows nine Canadian provinces occupying the list of the top 10 jurisdictions with the highest top combined marginal income tax rates, and all provinces are in the top 15.
Canadian provinces are similarly uncompetitive with US jurisdictions when comparing personal income tax rates at the CA$300,000, CA$150,000, CA$75,000, and CA$50,000 income thresholds.
Canada’s top combined statutory income tax rate is also uncompetitive compared to other industrialized countries. Out of 38 OECD countries, Canada’s top combined income tax rate ranks 5th highest.
As a senior widow on a fixed income my income tax rate is insane.
Yes, but we get services in return…..just kidding. We have dogshit government that costs a fortune.
Did our tax return today. Both of us retired, both of us paying an insane amount. Frack this country of thieves.
Frau Freeland wouldn’t commit to not raising taxes for the $35 billion (so far) in new spending the Liberal government has announced.
So expect increases in taxes in this years budget beyond the April 1st escalators.
But you’re getting such a great carbon tax rebate! I’ll bet that study doesn’t include that awesome perk!
Killing the middle class is an expensive proposition and quite ironic that the people targeted for replacement have to pay significantly for their own demise. Perhaps it’s time to refresh the tree of liberty or something.
It’s a sick joke, innit? I don’t know whether to laugh or cry. I lament the future my boys will have, but least they know we’ve done what we could thus far and have taught them to question everything.
And this news is probably giving TurdHole hairy palms. It is also suffering tennis elbow while thinking about it all.
Kleptocracy.
Government by thieves,for the benefit of those thieves is so wonderful.
Eventually you run out of productive people to steal from..
Cause even the most dim bulb producer will stop working when they suffer for doing so.
65% of Canadian Voters,vote for this State of Thuggery..
The Welfare State.
At current taxation rates,there is no point working,paying the taxes and then hiring some other tradesman to perform tasks you can do yourself,using those “After tax” dollars..
It is cheaper to stop working,perform your own needs/tasks.
The “Helpers” keep insisting that they tax behaviour they wish to curb,you know..
Like Drinking,Smoking and Earning a living.
Retribution will be enormously entertaining.
For you must remember,one cannot negotiate with a parasite.
For what “benefits” might you be negotiating?
As for good government??
When this help costs you far more, than any benefit accrued and causes you massive harm…
When is too much,enough?
This was always the flaw of the Long March Through the Institutions..
These institutions exist to protect the institutionalized.
The very fools who have destroyed all faith,trust and function of these structures..
Too stupid to realize,we can live without them.
But they cannot exist with out us..To steal from.
Federal tax rates must be cut drastically. The feds use overtaxation to interfere into provincial jurisdiction. We see it constantly in the stupid “programs” the feds come up with and then use taxpayer money to extort provinces (and now municipalities) into accepting….bought off by the taxpayers own money. Cut federal tax rates drastically and leave the tax room to provinces.
I’ve said this before but it bears repeating: given the size of our country, it’s abundant natural resources, an educated population, inherited ideals of western democratic government and individual liberty, we should be completely debt less and sitting on prosperity fund equivalent to Norway or the Arab petro states.
But no, we’re not.
Instead, we’re lead by a truly stupid, vain, and corrupt class of “leaders” without honor, integrity, ethics and vision. And a majority of the electorate is too soft, complacent, and conceited, to be outraged about it.
We therefore deserve what we get. Unfortunately it will have the effect of taking down those of us who care about and fought for something better.
L – …Out of 38 OECD countries, Canada’s top combined income tax rate ranks 5th highest.”
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Isn’t this the same OECD that predicted Canada’s economic performance over the next 30 years would be
the worst in the OECD? Fiscal reality is an ongoing lowering of the standard of living for a generation or two.
But no Canadian politician. currently holding elected office. could point that out; too much political uni-party
thinking, and such a lack of diversity of thought in his Majesty’s Loyal(to whom) Opposition Parties.
But, but, but… healthcare is FREEEEE!!!
Only if you use it. If you don’t get sick you are paying a lot for nothing.
They say Canada has a productivity problem.
Could it be due to the top productive people leaving the country and taking their industry with them?
We’ll never catch up to the rest of the world at this rate.
After AB/Sask. separate from tier 2 Canada, we should have a binding referendum limiting all levels of taxation.
If we don’t, the chance of us ending up with a death spiral of imposed taxes similar to present day Canada is too great. Those same leaches will migrate here to “help us” meanwhile helping themselves to our wealth.
Probs something about property rights and a right to self protection as well, like the US “2A”
Government has become a burden that is no longer needed.
It took Canada 14 years, and another $419B in debt, to return to a balanced budget after PET and it couldn’t have been done without the GST, even Chretien admitted this, and Martin swiping $30B from Unemployment. There’s no way that taxes won’t go up no matter who is in office. The carbon tax is here to stay though a few sectors like home heating will probably get an exemption, and there will be a slew of new taxes and fees coming. Runaway spending has consequences that can’t be avoided.
I could balance the budget in one term in office and begin paying down the debt at the same time.
If any of the government unions went on strike they could stay on strike.
There are so many things that can be cut it is astounding.
I agree that it could be done but I’m being realistic, no one like you and me would ever get elected.
That is for sure.
Just did my taxes and I now self identify as a rape victim.