VIResident posted topic Municipal, Provincial & Federal Taxes combined total

lpoutine,

VIResident has just posted a new topic entitled "Municipal, Provincial & Federal Taxes combined total" in forum "Victoria and South Island Economy".

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Could not find a topic that spoke to all three levels of taxes combined and impact on the average Jane & Joe.
A snip from today's news:
When provincial taxes are added to those imposed by Ottawa, top marginal tax rates exceed 50 per cent in most of the country. The aggregate income tax burden is now excessive for skilled workers, managers, professionals, innovators, top researchers and entrepreneurs. These are the people we need to drive entrepreneurial wealth creation and sustain a productive and competitive economy.Many talented individuals with these kinds of qualifications and experience are leaving Canada or seriously contemplating doing so.
https://www.timescolonist.com/opinion/op-ed/comment-canadian-governments-are-addicted-to-personal-income-tax-1.23800250 (https://www.timescolonist.com/opinion/op-ed/comment-canadian-governments-are-addicted-to-personal-income-tax-1.23800250) The above speaks to a combination of Provincial & Fed. tax - exceeding 50%. Inquiring minds wonder what that percentage is when adding in municipal taxes AND levies.60%? more? Alberta has floated the idea of dropping corp./business tax to 8%, very appealing to any business of any size.Alberta is also floating the idea of dropping personal tax rate substantially.Think that is enough to entice people to scramble over the provincial border, kids and small business in tow?
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The topic can be found here:
https://vibrantvictoria.ca/forum/index.php?/topic/6742-municipal-provincial-federal-taxes-combined-total/?view=getnewpost


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