Less permit fee and land transfer tax revenue is driving Toronto’s overall revenue drop.
Ontario’s top income tax rate is the second-highest in Canada and the United States.
McGuinty’s new top tax bracket was called the temporary “deficit-fighting high income tax bracket.”
Ontario increased its top rate to 20.53 per cent.
The province's top combined federal/provincial personal income tax rate stands at 53.53 per cent.
If investors can fetch a higher after-tax return by investing in Ontario over Alberta, there’s a good chance they will.
Ontario’s top combined provincial-federal tax rate is 53.53 per cent—the second highest in Canada and the United States.
High marginal tax rates discourage productive economic activities such as work, savings, investment and entrepreneurship.
The top combined tax rate in Ontario is 53.53 per cent, the second highest combined rate in Canada and the United States.