taxes

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When the PST rears its ugly head on April 1, 2013, British Columbia’s tax competitiveness will be dealt a major blow as the cost of the investing in the province increases dramatically. Unfortunately, the well-being of BC families will be negatively affected in many ways – none more important than the adverse impact the PST will have on investment in machinery, equipment, and technology – the backbone of a healthy economy.


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Shortly before unveiling the provincial budget in March, Quebec Finance Minister Raymond Bachand told reporters that the average family pays enough taxes in Quebec. We couldn’t agree more. This year Quebecers have to wait until June 17 (nearly six months) to celebrate Tax Freedom Day. That is, if the average family in Quebec had to pay all the taxes it owed to all levels of government in advance, they would have to hand-over every single dollar they earned up to June 17—Tax Freedom Day.


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If you’ve ever tried to calculate all the taxes you pay in a year to all levels of government, you’ve probably given up somewhere along the way. While most of us can easily decipher how much income tax we pay – it’s right there on our tax returns – it’s a lot more difficult to gauge how much we pay in not-so-obvious taxes.


3:00AM
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Sitting down with my morning cup of coffee and Saturday's National Post, I was delighted to read Andrew Coyne's scathing criticism of the federal Conservatives' record in office, based on comments he was to make at this year's Manning Networking Conference (Is there a conservative in the House?, March 10).

Where has conservatism gone? Coyne asked. Unfortunately, Post readers didn't have to look far for the answer - the adjacent page to be precise.

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With Labour Day just around the corner and British Columbia's unemployment rate at 7.3 per cent, Premier Christy Clark's promise of a jobs agenda is welcome news. Unfortunately, her actions haven't backed up her words.


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With the defeat of the harmonized sales tax (HST), B.C.’s competitiveness will suffer a crushing blow, as the province experiences a rebirth of the provincial sales tax (PST). The unfortunate reality is that restoring the PST will lead to a reduction in investment and job creation. It now falls on Premier Christy Clark and her colleagues to show leadership and put forth a tax plan to mitigate the unrealized economic gains that the HST would have encouraged.


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After two years of heated debate, many British Columbians are still confused about how to vote in the current mail-in referendum on the HST. The choice before them is to either keep the HST—which the government has promised to reduce to 10 per cent from 12 per cent—or restore the old PST/GST system at a total rate of 12 per cent.

To help British Columbians decide, we have calculated the impact of restoring the PST/GST on the tax bill of BC families (with two or more individuals) at various income levels using the Fraser Institute’s Canadian Tax Simulator.