A recent lead editorial in one of the world’s most prominent newspapers, the Wall Street Journal, pointed out the risks associated with the United States adopting a national sales tax, or value-added tax (VAT).
After seven years of budget deficits and over $160 billion in new debt, the federal government confirmed in its financial update Wednesday that it expects to record a surplus next year.
Prime Minister Stephen Harper recently announced his government will introduce income splitting for tax purposes at an annual cost of roughly $2 billion.
« Nous voulons que les Québécois paient moins d’impôt et de taxes », a affirmé Philippe Couillard, premier ministre du Québec en attendant que la commission spéciale chargée d’améliorer la compétitivité du régime fiscal provincial dépose ses recommandations. La déclaration du premier ministre est un signe positif : on commence à entrevoir la possibilité d’un changement.
The economic news coming out of Ontario in recent days has been far from positive. The province's economic and fiscal position is weak and new analysis released by the Ministry of Finance suggests its economy will remain sluggish for the foreseeable future.
One item sorely missing from Finance Minister Mike de Jongs recent provincial budget was a plan to make BCs business taxes more competitive and attractive for investment.
With federal Finance Minister Jim Flaherty poised to unveil his 2014 budget on February 11th, early signs point to a business-as-usual budget with his government staying focused on eliminating the deficit in 2015 and creating the fiscal room to provide tax relief in next year's budget conveniently right before the 2015 federal election campaign.
There might be a thousand reasons why people hate sales taxes. Here are three: First, theyre visible; second, in Alberta, where no provincial sales tax exists, there is justifiable pride that people have escaped at least one tax applied elsewhere in Canada; third, many Albertans rightly fear that if a government introduced a new tax, it would be just another way to separate taxpayers from their money and to spend more and inefficiently so.