There should be mandatory taxation which cannot be avoided on all income over $200K. It would be unaffected by deductions, credits, etc.
Both spouses or partners should be able to combine their income, taxes, tax credits, and deductions for income tax purposes.
In these tough times, I believe that everyone should pay their fair share of tax. That's what the Fairer Tax is all about, and there are two things I would like to see the Ontario Liberal Party do: Make the super rich pay their fair share Currently it's too easy for the super rich to dodge paying their fair share of tax in the Province of Ontario. The Ontario Liberal Party should campaign to close these loopholes ...more »
A succession of Liberal and Conservative governments, both at the federal and provincial levels, claimed that cuts to corporate taxes are the surest way to increase capital spending and job creation. So, what happened? While corporate cash flow rose, capital investment as a percentage of Gross Domestic Product (GDP) showed a long term decline, according to a study released by the Ottawa-based Canadian Centre of Policy ...more »
Ontario collected approximately $242 million in the most recent budgetary year from resource royalties, compared to $26 billion, $11.5 billion, and $3 billion in personal income, corporate income and gasoline taxes, respectively. Increasing the resource royalty rates may cause the rate of extraction of resources to decrease and may cause the resources to undergo a greater amount of processing in Ontario.
One receives a partial, refundable tax credit for donations to candidates in provincial elections. Given the fact that those of higher economic status tend to be more likely to be donors than those of lower economic status, a more equitable means of encouraging political participation would be to replace this subsidy with a per vote subsidy, possibly only up to a maximum of the electoral expenses of the campaign.
Simplify income tax and make it easier to pay for it. Tax accountants are expensive and do not economically contribute to the province, make it easier for everyone to pay their income taxes without the need for an accountant
While it is true that the Province of Ontario has a unique role to play within Canadian confederation, I believe that we are increasingly treated as a doormat by the rest of the country, and most especially by successive federal governments for many years. Specifically, we send to Ottawa $10 billion each and every year in tax revenue that we get back in terms of federal spending per capita in Ontario where education, ...more »
Why does the government tax inflation? If I save money to buy something in the future, inflation will erode the value. If I get interest or dividends or capital gains on that savings, I get taxed on that interest or dividends or capital gains even if it does not exceed the rate of inflation. There should be a tax credit on interest and dividends and capital gains equal to the rate of inflation. If the interest and dividends ...more »
Individuals and businesses are permitted to deduct the cost of home energy consumption, reducing the Ontario budget by approximately $60 million/year. This discourages energy conservation measures and reducing the incentive to move to a smaller or higher density dwelling unit (which is less costly to service), reducing the opportunity for local jobs.
Why should seniors who are homeowners be granted greater rights than seniors who are tenants? If one cannot afford to pay property taxes, one cannot afford to remain where one resides. One has the option of moving to a smaller or higher-density dwelling unit, or accepting one or more paying tenant, reducing the overall cost of housing, transportation and government services. There are also studies which show that labour ...more »
Eliminate the Ontario Sales Tax Credit, offset by a reduction in the official sales tax rate, which will reduce the probability and severity of tax evasion, while lowering the administrative costs.