More than 55 per cent of all federal, provincial, and local taxes are paid by the top 20 per cent of income earning families.
canadian tax system
The Liberal government raised the top federal income tax rate to 33 per cent from 29 per cent.
The Ryan plan could incentivize high-income Canadians to relocate to the United States.
Over the years, the federal government has shown a penchant for muddling the tax system with a myriad of tax credits, deductions, exemptions and exclusions. But tax expenditures—as they are collectively known—recently drew fire from Canada’s auditor general.