When the new federal top tax rate takes effect, Alberta will have one of the highest top rates in North America.
income tax rate
The federal Liberals plan to increase the top federal personal income tax rate.
Earlier this month, Bill Morneau, the former chair of the C.D. Howe Institute, was appointed Canada’s minister of finance.
In an attempt to increase transparency, Prime Minister Justin Trudeau has made “mandate letters” to his ministers publicly available. These letters are intended to clarify the focus of each minister’s portfolio.
The new Trudeau government plans to raise personal income taxes on the top one per cent of Canadian income-earners in order to fund a personal income tax decrease on the middle class.
New Brunswicks new tax plan: Ontario take note: New Brunswick is considering a 10% income tax rate and a 5% corporate tax rate
Ontario Premier Dalton McGuinty could learn a thing or two from his colleague in New Brunswick, Liberal Premier Shawn Graham.
In 2006, after defeating the incumbent Conservative government, the newly elected Graham took a page from McGuinty's playbook and increased personal and corporate taxes. However, unlike McGuinty, Premier Graham seems to have learned from his mistakes and is reversing course.