Government Spending & Taxes

Impact of Provincial Tax Changes on British Columbian Families finds that the average family in British Columbia—with a 2018 household income of $114,809—will pay $969 more a year in taxes due to the B.C. government’s recent tax changes. Crucially, that figure does not include several residential property tax increases, such as the increased property transfer taxes, the foreign buyers tax, the speculation tax and the school tax.

Restoring Ontario’s Public Finances finds that Ontario’s new provincial government can balance the budget and even cut taxes, but doing so will require a focus on spending discipline. In fact, a five per cent reduction in spending from 2017/18 levels would achieve a balanced budget by 2020/21—years earlier than the 2024/25 timeline set by the previous government—and also free up $21 billion in fiscal room, which could be used to reduce taxes.

The Effects on Entrepreneurship of Increasing Provincial Top Personal Income Tax Rates in Canada finds that many provincial governments across Canada are discouraging entrepreneurship and preventing hundreds of new businesses from being created by increasing top provincial personal income tax rates, which reduces the incentives for entrepreneurs to start new businesses.