At 53.53 per cent, Ontario has the second highest top combined marginal income tax rate in Canada and the United States.
The Wynne government’s budget raises most middle tax rates and adjusts income thresholds.
The taxman takes $17,800 in provincial taxes from the average Ontario family every year.
Ontario's top personal income tax rate is 53.5 per cent.
An escalator that adjusts for inflation is merely maintaining the real purchasing power involved in the charge.
In this year’s budget, the Wynne government forecasts a nearly 5 per cent increase in program spending.
The province’s top earners face a tax rate of 53.5 per cent on any additional earnings.
The current federal government raised the top federal personal income tax rate to 33 per cent.
Ontario’s top combined marginal personal income tax rate is 53.5 per cent.
Business investment in Ontario is $50.9 billion this year, down from $53.8 billion before the recession.