Income Tax
An income tax is a tax imposed on individuals or entities (taxpayers) that varies with respective income or profits (taxable income). Income tax generally is computed as the product of a tax rate times taxable income. Taxation rates may vary by type or characteristics of the taxpayer. The tax rate may increase as taxable income increases (referred to as graduated or progressive rates). The tax imposed on companies is usually known as corporate tax and is levied at a flat rate. Individual income is often taxed at progressive rates where the tax rate applied to each additional unit of currency …
WikipediaPublications
Fraser Institute · 6 February 2025 English
This bulletin assesses the extent to which the Smith government has increased spending since its original plan in the 2022 mid-year fiscal update and puts Alberta’s current risk of budget …
“other revenue” such as personal and corporate income tax. Sources: Alberta, 2022, 2024a, 2024b; calculations … sources of government revenue, such as corporate income tax, fluctuate along with resource revenue. However … resource revenue increases by $1, corporate income tax revenue increases by approximately $0.14. However … However, when resource revenue declines, corporate income tax revenue does not decline by a statistically …
Fraser Institute · 4 February 2025 English
fiscal reform. The reform features an across-the-board 25 percent reduction in federal personal income tax rates accompanied by spending reductions aimed at balancing the budget within four years. The reform … spending by 6.7 percent over four years beginning in 2025/26, it could cut every federal personal income tax rate by 25 percent before balancing the budget in 2028/29. The majority of this spending reduction …
emulate BC’s Campbell government; cut personal income tax rates by 25% and balance the budget Feb … Fraser Institute and co-author of Federal Personal Income Tax Relief: Lessons from British Columbia. B.C … Campbell government in B.C. cut all personal income tax rates by an average of 25 per cent, restrained … Specifically: • Cut all federal personal income tax rates by 25 per cent. • Reduce federal government …
Fraser Institute · 4 February 2025 English
changes, a reform of the personal income tax (PIT) rate that cut tax rates by 25% across all income-tax brackets. This propelled the province’s top marginal personal income-tax rate from second-highest to second-lowest … high-income earners. The estimated revenue loss from dropping these recently introduced two high-income tax brackets and reducing the top provincial marginal PIT rate from 20.5% to 14.7% is $117 million …
reform of personal income-tax (PIT) that cut tax rates by 25% across all income-tax brackets. The tax … having the second- highest top marginal personal income-tax rate to the second-lowest in the country. The … British Columbia’s 2001 reductions in person income-tax rates and provide insights on the merits of similar … from dropping the recently introduced two high-income tax brackets and reducing the top provincial marginal … the personal income-tax (PIT) rate that reduced tax rates by 25% across all income tax brackets. According …
Fraser Institute · 4 February 2025 English
fiscal reform. The reform features an across-the-board 25 percent reduction in federal personal income tax rates accompanied by spending reductions aimed at balancing the budget within four years. The reform … spending by 6.7 percent over four years beginning in 2025/26, it could cut every federal personal income tax rate by 25 percent before balancing the budget in 2028/29. The majority of this spending reduction …
Federal Personal Income Tax Relief Lessons from British Columbia Jake Fuss, Grady Munro, and Gordon Campbell … TAXATIONFebruary 2025 • Fraser Institute Federal Personal Income Tax Relief: Lessons from British Columbia Jake … of Canada’s Federal Finances and Personal Income Tax System 3 2. Tax Relief in British Columbia … across-the-board 25 percent reduction in federal personal income tax rates accompanied by spending reductions aimed … 2025/26, it could cut every federal personal income tax rate by 25 percent before balan- cing the budget …
Fraser Institute · 31 January 2025 English
The findings in Thinking About Poverty: Helping the Poor; What are the options? demonstrate that employment-based policies provide a more lasting solution to poverty than redistributionist government programs such as …
Means-Tested Basic Income Guarantee—Negative Income Tax (NIT) This is roughly how it might work: If your … (Friedman, 1962: 190–95). He called it the negative income tax (NIT) and it was intended as a more efficient …
Fraser Institute · 23 January 2025 English
This report assesses the relative fiscal performance of Canadian premiers (eight current and two former) based on government spending, taxes, and debt and deficits up to fiscal year 2023/24. In …
corporate income tax rate6 and the average annual change in the general corporate income tax rate during … $50,000, $75,000, and $150,000.7 The personal income tax sub-components also include other measures such … Alberta’s relatively low personal and corporate income tax rates during her tenure. The vast majority … relative, not absolute, performance. Corporate income tax Table 5 provides the rankings and scores of all … all Canadian premiers based on the corporate income tax sub-compo- nents. On this sub-component, Quebec …
Canada Department of Finance · 23 January 2025 English
the Department of Finance released draft legislation (and related explanatory notes) to amend the Income Tax Act to extend the deadline for making donations eligible for tax support in the 2024 tax year to …
(and related explanatory notes) to amend the Income Tax Act to extend the deadline for making donations …
Fraser Institute · 14 January 2025 English
The federal government recently increased the capital gains tax inclusion rate from one-half to two-thirds for all capital gains realized by corporations, and for individuals realizing capital gains exceeding $250,000 …
incur capital gains taxes and who are in the top income tax bracket for personal income taxes. Moreover … Saskatchewan has the lowest top marginal personal income tax rate upon which capital gains taxes are calculated … (federal and provincial/state) marginal personal income tax rates than Americans in nearly every US state … Saskatchewan has the lowest top marginal personal income tax rate upon which capital gains taxes are calculated … Saskatchewan has the lowest top marginal personal income tax rate upon which capital gains taxes are calculated …
Fraser Institute · 9 January 2025 English
Past research has shown that Atlantic Canada chronically underperforms compared to New England across several indicators of economic performance. This paper builds on that research by examining policy differences between …
the marginal income tax rates for high and middle earners as well as corpo- rate income tax rates and sales … Marginal income tax rates for high earners ($300,000+) This variable examines the personal income tax rate … that Atlantic Canada has far higher marginal income tax rates for high earners than New England. The … federal and provincial/state marginal personal income tax rate; includes surtaxes where applicable. Source: … Carrión-Tavárez, 2023. Figure 2: Marginal Combined Income Tax Rate for High Earners ($300,000), 2023 (percent) …
DDN: Dundurn Press · 7 January 2025
Build your writing business into a thriving and satisfying career.Are you a feisty, creative person? Independent, ideas-driven, and ready to work hard for the lifestyle you deserve? If so, you …
on earnings of $400 or more, in addition to income tax. Each state has different licensing rules for …