The 2015 federal budget vehemently argued that raising the annual TFSA contribution ceiling from $5,500 to $10,000 would disproportionately benefit lower- and middle- income Canadians. But is that really the case? Find out what's fact and what's just spin in our handy infographic below.
Want to know more? Read our full analysis: The Number Games: Are the TFSA Odds Ever in Your Favour?
Taxes and tax cuts
OTTAWA—The federal budget’s claims regarding who would benefit from doubling the Tax Free Savings Account (TFSA) annual contribution ceiling exclude key contextual data thereby leading to erroneous conclusions, says an analysis released today by the Canadian Centre for Policy Alternatives (CCPA).
HALIFAX— If Nova Scotia hopes to move forward, the current tax system must change. Cuts to corporate taxes and income taxes for the highest earners and increasing reliance on consumption taxes will not help the majority of Nova Scotians, nor will they help us to build a province that is prosperous and just.
In the lead-up to the release of the Nova Scotia provincial budget, the CCPA-NS has published a series of 'budget watch' primers to help Nova Scotians better understand the government’s budgetary decisions. When the budget is released, it is important to ask questions about the government budget’s impact on us, our families and our communities. The primers are designed to provide Nova Scotians with the information necessary to weigh the choices made by our government.
HALIFAX—The Nova Scotia government is set to release the provincial budget on April 9. To help Nova Scotians understand the government’s budgetary decisions, the Canadian Centre for Policy Alternatives-NS (CCPA-NS) is releasing a series of budget watch primers.
The CCPA-NS budget watch primers are designed to provide Nova Scotians with the information necessary to weigh the choices made by our government. When the budget is released, it is important to ask questions about the government budget’s impact on us, our families and our communities.
In the lead up to the spring 2015 provincial budget, talk about ways to fix Ontario's revenue problem keeps turning to tax options. CCPA-Ontario economist Kaylie Tiessen unpacks the range of revenue options at the province's disposal in this tax primer.
A choice is before us. Metro Vancouver’s upcoming transportation referendum is a rare opportunity to significantly enhance transit services, boost local employment and tackle climate change.
Metro Vancouver voters are being asked to support a 0.5 percentage point increase to the provincial sales tax (PST), which would raise $2.5 billion over ten years. Together with contributions from federal and provincial governments this means an overall $7.5 billion capital plan for transit and transportation.
In mid-March, residents of Metro Vancouver will receive mail ballots giving them a chance to vote in the region’s transit and transportation referendum. Ballots must be returned by mail by May 29.
Specifically, Metro Vancouver voters are being asked if they support a 0.5 percentage point increase to the provincial sales tax (officially known as the Congestion Improvement Tax), applied only in the Metro Vancouver region, in order to fund new public transit and transportation infrastructure.
With a new mayor at the helm, the City of Toronto's 2015 budget season is about to begin in earnest.
Cue the debate over which services we can't afford to maintain.
Cue the debate about how major infrastructure projects will have to wait until senior levels of government pitch in to help.
Cue the perennial "we can't afford" to be a great city line of defence.
Of course, things could be different. In fact, things in Toronto could be a lot better if the city pursued all of the fiscal tools at its disposal.
This study finds the City of Toronto hasn't been using all of the tax room that it has at its disposal – it's sitting on more than $600 million in untapped potential revenue. Just allowing Toronto property taxes to keep up with inflation and population growth would yield $200 million in additional annual revenue and a set of untapped tax options available under the City of Toronto Act could yield up to $440 million in additional annual revenue.