Income Tax under NDP

[Super_Geo]

Hey guys, has there been any guidance out there on where NDP is going to move provincial income tax? I'm assuming the flat tax rate will be replaced by a tiered one?

[sputnik]

It is right in their platform.

The first $125,000 you earn is taxed at 10%
Your earnings between $125k and $150k are taxed at 12%
Your earnings between $150k and $200k are taxed at 13%
Your earnings between $200k and $300k are taxed at 14%
Anything above $300k is taxed at 15%

[Manhattan]

It's not all that bad. If you made $150K a year, you'd only be paying $500 more. Combine that with the fact that you won't pay health premiums you're still ahead.

[BigMass]

Originally posted by Manhattan
It's not all that bad. If you made $150K a year, you'd only be paying $500 more. Combine that with the fact that you won't pay health premiums you're still ahead.

what about the people making over 300k though? How will they eat?

[Super_Geo]

... how quickly are they going to enact this? Or is it already in place now that they're the majority party?

[Toma]

Originally posted by Manhattan
It's not all that bad. If you made $150K a year, you'd only be paying $500 more. Combine that with the fact that you won't pay health premiums you're still ahead.

Would it really be more? what about added costs suggested by the PC's?

But more than now, sure.

[suntan]

Originally posted by Super_Geo
... how quickly are they going to enact this? Or is it already in place now that they're the majority party?

They have to pass a budget first, and perhaps rescind the old one (not sure how far the gov't got with passing the PC budget).

[sabad66]

Originally posted by BigMass


what about the people making over 300k though? How will they eat?

[phreezee]

I wonder if any of those new fees will be rescinded, especially the land transfer.

[blownz]

I didn't notice if they mentioned which year the tax increase will happen in. It will make a big difference in decisions regarding RRSP deductions (ie this year vs next). Anyone see that?

And I still worry that every single one of their promises (which sure look great on paper) they say will be paid for by the top 10% of earners and corporations. Seems optimistic to me.

[birdman86]

Except that the corporations means the employees which means everyone regardless of income

Conveniently the platform seems to be unable to load now too.
http://www.albertandp.ca/platform

[M.alex]

Originally posted by birdman86
Except that the corporations means the employees which means everyone regardless of income

Conveniently the platform seems to be unable to load now too.
http://www.albertandp.ca/platform

LOL, soon to be replaced by the 50% flat tax act

[HiTempguy1]

Originally posted by birdman86
Except that the corporations means the employees which means everyone regardless of income
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We give them the power to do so as employees.

If people stopped viewing themselves as slaves to do the employers bidding, we'd be in a much better world and give ourselves a lot more power.

[Sugarphreak]

...

[suntan]

Um, yeah, depending on how far the old budget went they still might have to do something.

Good lord they're not fucking dictators. They still have to actually make bills and shit. Ya no fucking shit they can pass the budget easily but they still have do actually do it.

[lasimmon]

Yah they were chatting about this on the CTV last night. Have to get a budget put together. Probably number one on the list after a cabinet?

[BigMass]

Originally posted by Sugarphreak
Free Money for everybody!

No consequences!

All thanks to fictitious income from evil corporations!

They have a majority, they can do whatever they want now

[kertejud2]

Originally posted by BigMass


what about the people making over 300k though? How will they eat?

They'll move to BC and Saskatchewan...to pay even more tax.

[suntan]

Nunavut now has the lowest income taxes for high-income earners.

[kertejud2]

Plenty of beachfront to build some fancy villas as well.

Let the exodus begin.