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Canada Tax Plans For Elections: Party Comparison

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Economy

https://www.macleans.ca/politics/2019-federal-election-platform-guide-where-the-parties-stand-on-everything/#taxes

Major Tax Plans from 3 major parties on taxes:

 

CONSERVATIVES (Right Wing):

- Lower taxes from 15% to 13.75% on people who make under $47,600

- Remove sales taxes (5%) from heating and utilities

- Raise RSP refund contributions from 20% to 30% (50% for very low income)

- Bring a 15% tax credit for those on maternity or parental leave

- Bring back public transportation tax credits

 

LIBERALS (Centre Wing):

(currently in power, Trudeau has not made these official yet as so are not on link, but he has mentioned these as plans)

- Remove taxes from unemployment and maternity leave benefits

 

NDP (Left Wing):

- Raise the 33% top income tax bracket to 35%

- Raise stock gains taxes from 50% to 75% (effectively only 37.5% as half of gains are excluded)

- Raise the 15% Corporate Tax Rate to 18%

- Remove sales tax on 0 emission vehicles

- Create a 1% Net Worth tax on wealth over $20 Million

 

 

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Economy

Trudeau hasnt said much on taxes yet hence why little is there

 

the liberals are more focused on spending changes than tax changes that are mostly already set to their liking after being in power for 5 years

 

opinions:

 

@OBEY @JustinTrudeau @Morphine Prince @Luc @Woolfsmck @PartySick @Born To Slay @River

Edited by Economy
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Maleficent
45 minutes ago, Economy said:

Create a 1% Net Worth tax on wealth over $20 Million

Sounds like a great way to make sure your citizens take their money out of their home economy...

I'm not a witch, I'm a love technician
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Economy
5 minutes ago, Maleficent said:

Sounds like a great way to make sure your citizens take their money out of their home economy...

I always thought the idea of net worth taxes were problematic for many reasons

 

but then again i find the NDP a problematic party so im not surprised :sweat:

Edited by Economy

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Maleficent
9 minutes ago, Economy said:

I always thought the idea of net worth taxes were problematic for many reasons

 

but then again i find the NDP a problematic party so im not surprised :sweat:

can't believe they run my province...

I'm not a witch, I'm a love technician

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Economy
7 minutes ago, Maleficent said:

can't believe they run my province...

U from BC?

 

horgan is the reason were loosing Billions a year in tax revenue :air:

 

hes done everything in his power to stop Transmountain even tho tax payers already payed for it

 

its not even BCs place to interfear given that its an interprovincial project that was up to Federal approval

 

How they felt about it was irrelevant and they havent had the legal jurisdiction to try and atop it like that :saladga:

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FABian

Why do I just not care for literally any of these parties and leaders.

I really didnt want to vote Andrew Scheer, but I might just have to given the other options provided.

I am certainly not voting for another 4 years of Liberal corruption. I dont care what plans they propose, they need to answer for their actions.

The NDP sit 50-50 with me 

Remove sales tax on 0 emission vehicles

I could use a new Tesla

 

And Greens and PPC and anybody else dont sit well with me.

 

Watch me get fired tomorrow for even implying I may vote conservative.

Vancouver riding ftw

Edited by FABian

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Maleficent
37 minutes ago, Economy said:

U from BC?

yes but studying at McGill now. Vancouver born and raised!

Edited by Maleficent
I'm not a witch, I'm a love technician
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Luc

All seem like okay plans I guess :laughga: in my country the conservatives and liberals would focus on lowering income taxes for corporations, wealthy and high incomes while left-wing parties would just propose the opposite while lowering taxes on the poor, similar to your conservatives in that way.

 

But I'm wondering, with what the conservatives want to cut in taxes - where do they want to cut on public services? That can't end well. Purely looking from the perspective of lowering debt to GDP, I'd say the left-wing proposals are the best. But I can't really judge very well without knowing the expenditure proposals.

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Woolfsmck
1 hour ago, Economy said:

Trudeau hasnt said much on taxes yet hence why little is there

 

the liberals are more focused on spending changes than tax changes that are mostly already set to their liking after being in power for 5 years

 

opinions:

 

@OBEY @JustinTrudeau @Morphine Prince @Luc @Woolfsmck @PartySick @Born To Slay @River

Cut them.. 

like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true
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Economy
14 minutes ago, Luc said:

All seem like okay plans I guess :laughga: in my country the conservatives and liberals would focus on lowering income taxes for corporations, wealthy and high incomes while left-wing parties would just propose the opposite while lowering taxes on the poor, similar to your conservatives in that way.

 

But I'm wondering, with what the conservatives want to cut in taxes - where do they want to cut on public services? That can't end well. Purely looking from the perspective of lowering debt to GDP, I'd say the left-wing proposals are the best. But I can't really judge very well without knowing the expenditure proposals.

The Conservatives cut taxes a lot when they were in power for 9 years from 1996 to 2005 and the Liberals didnt make many changes to the general tax code other than raising the top income bracket from 29% to 33% and the middle bracket was lowered from 21.5% to 20.5% now

 

Small business taxes were cut from 11% to 9% but all 3 major parties supported the idea so it wasnt an issue

 

Since most other taxes including Corporate taxes are the same still as the last time they were in power that may be why they arent advocating for more cuts on businesses and wealthy. They are fine with them the way they are

 

on spending they havent been fully clear yet but both the NDP and Conservatives wanna bring Canada back to balanced budget

 

Trudeau proposes continuing to run deficits below 1% of GDP to support economy but the debt to GDP still gradually falls

 

its down to about 30% now

Edited by Economy

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River

None of those plans are good, the conservatives are coming after the weak as usual, taxes on fresh mothers and those who can't afford a car.. wow.

Also, stop with this populist idea of removing a tax completely on sales, the only ones who benefits from this are the shops that sells them, not the customer or the companies, the prices will not go down.. better to keep this tax.

Trudeau as usual is not taking a stand, decision or coming with ideas because he scared to piss off someone.. he's always on neutral.

The left wing ideas are irrational, the country would go bankrupt after a year or two, it's a way to make all the investors leave along with the jobs.. the tax the rich idea never works.

 

 

I'm not serious 99% of the times ;)
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Economy
10 minutes ago, River said:

None of those plans are good, the conservatives are coming after the weak as usual, taxes on fresh mothers and those who can't afford a car.. wow.

Also, stop with this populist idea of removing a tax completely on sales, the only ones who benefits from this are the shops that sells them, not the customer or the companies, the prices will not go down.. better to keep this tax.

Trudeau as usual is not taking a stand, decision or coming with ideas because he scared to piss off someone.. he's always on neutral.

The left wing ideas are irrational, the country would go bankrupt after a year or two, it's a way to make all the investors leave along with the jobs.. the tax the rich idea never works.

 

 

Going after mothers??? Where? What did i miss? :duck:

 

yeah trudeau has that issue. Always plays with words and u never know whose side hes really on

 

agreed on NDP. Their corporate and top income taxes are too high and would kill investment

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River
4 minutes ago, Economy said:

Going after mothers??? Where? What did i miss? :duck:

 

yeah trudeau has that issue. Always plays with words and u never know whose side hes really on

 

agreed on NDP. Their corporate and top income taxes are too high and would kill investment

- Bring a 15% tax credit for those on maternity or parental leave

Or I didn't understand???

 

I'm not serious 99% of the times ;)

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Economy
30 minutes ago, River said:

- Bring a 15% tax credit for those on maternity or parental leave

Or I didn't understand???

 

Do u know what a tax credit is? :air:

 

thats giving back money they payed in taxes during maternity leave

 

this plan is to GIVE them money back not take away :rip:

 

i prefers Trudeaus proposal in that aspect tho cuz his plan is to not tax income during maternity leave at all so u get the savings immediately and dont have to wait for a credit during tax time plus it makes all the paper work simpler

 

but still, the conservative plan is still a positive change to put more money in pockets of new parents vs how things work now. Its just not AS positive a change as the Liberal plan

 

The Conservative plan will give new parents a tax credit during income tax season based on income to give back some of the taxes payed while the Liberal plan wont charge them taxes at all and they dont have to wait to tax season to calculate their benefits

 

Both parties are helping new parents with their plans. But the Liberals would be to a greater degree than the Conservatives

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