Dear You,
I've heard/ read that the respective 'powers-that-be' have announced tax cuts in each province... Does this change the equation for the man in the street and how? Does this reduce the difference in costs of living for both cities (Vancouver/ Toronto)? Please educate! South |
Ontario has had major income tax cuts the last five years and has (quite rightly)
concentrated on corporate and capital gains tax reform this fiscal year. British Columbia, on the other hand, was one of the two high- est taxed jurisdictions in Canada and North America, along with Quebec, until last week's retroactive tax cuts. Income tax rates in per cent: Taxable income range 2001 Current 2001 New* 2002 New $1-$30,484 8.4 7.3 6.05 $30,484-$60,969 11.9 10.5 9.15 $60,969-$70,000 16.7 13.7 11.7 $70,000-$85,000 18.7 15.7 13.7 Over $85,000 19.7 16.7 14.7 How B.C.'s taxes will measure up to those of Alberta and Ontario in 2002: Income Single individual: B.C. Alberta Ontario $25,000 $857 $926 $892 $50,000 $2,655 $3,093 $2,679 $75,000 $4,934 $5,363 $5,133 Two income family of four: $60,000 $2,213 $2,677 $2,282 Source: British Columbia Ministry of Finance -- Gary L. Dare [email protected] "Je me souviens" |
Great!
Would you, please, provide any web links? Thanks. > |
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