Economy 52,861 Posted September 26, 2018 Share Posted September 26, 2018 https://www.bnnbloomberg.ca/ontario-to-halt-minimum-wage-hike-planned-for-2019-1.1143384 The previous Government raised minimum wage to $14/h with another increase to $15/h planned for January 2019 The New PC Government has vowed not to reverse the hike that already took place but it won't allow the next increase to pass and the minimum wage will remain frozen at $14/h for an unspecified amount of time The new premier plans instead to get rid of income tax for anyone making under $30,000 a year saying that would strain small businesses less Income tax under $30,000 is only 5% while the minimum wage hike is nearly 8% making his proposal less appealing to low income earners Link to post Share on other sites More sharing options...
Eggsy 8,280 Posted September 26, 2018 Share Posted September 26, 2018 We could really use the income tax plan here in the US... Its already hard to live off of 7.25 an hour in some locations plus taxes taken out. Link to post Share on other sites More sharing options...
Economy 52,861 Posted September 26, 2018 Author Share Posted September 26, 2018 2 minutes ago, Eggsy said: We could really use the income tax plan here in the US... Its already hard to live off of 7.25 an hour in some locations plus taxes taken out. I'm not sure what the federal income tax rate in Canada is for lowest bracket I'll check on my break but scrapping the income tax in this case would only apply to the Peovincial part of the income tax. Whatever the federal portion is ppl would still have to pay do it doesn't mean no tax at all Link to post Share on other sites More sharing options...
Eggsy 8,280 Posted September 26, 2018 Share Posted September 26, 2018 13 minutes ago, Economy said: I'm not sure what the federal income tax rate in Canada is for lowest bracket I'll check on my break but scrapping the income tax in this case would only apply to the Peovincial part of the income tax. Whatever the federal portion is ppl would still have to pay do it doesn't mean no tax at all That would still be nice <3 Link to post Share on other sites More sharing options...
Economy 52,861 Posted September 26, 2018 Author Share Posted September 26, 2018 1 hour ago, Eggsy said: That would still be nice <3 So it's 15% on the first $46,606 so add 5% from The Province and your looking at a tax rate of 20% in Ontario for low income earners Although low income earners do get tax rebates for certain things so the effective rate ends up being a little lower than the headline rate Link to post Share on other sites More sharing options...
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