#5272217 - 12/29/10 09:35 AM
Here we go again...
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44867
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Canadians hit with increases to payroll and income taxes
"Ontario residents will see the biggest tax hit in 2011 — an average increase of 4.3 per cent based on various family and income scenarios"
Increases in premiums for the Canada Pension Plan and Employment Insurance mean Canadians will be taking home less pay come January 1.
Based on a variety of income and family scenarios for each province, the average hike in personal income and payroll taxes is two per cent nationally, the Canadian Taxpayers Federation said in its annual New Year tax change calculations.
In B.C., when health premium hikes are included, the average inflation-adjusted increase is 2.9 per cent, the second highest hit province after Ontario, according to Derek Fildebrandt, national research director for the Canadian Taxpayers Federation (CTF).
The fact that B.C. does not index health premium brackets to inflation — something the federal government does for income tax brackets — disproportionately hurts those with lower incomes who get bumped into higher brackets, Fildebrandt said.
“If you get just a small inflation-adjusted increase … you see a very, very substantial tax increase,” he said.
For example, a B.C. family of four with a single-income earner who makes $35,000 and gets a 1.8-per-cent raise to account for inflation will pay $384 more for health, CPP and EI premiums in 2011, the CTF says. A dual-income family making $35,000 would pay $365 more.
“That means people trying to move out of the very low income scenario of $35,000 with two kids is extraordinarily difficult when the government puts walls in their way that essentially penalize them for getting a raise,” Fildebrandt said.
Ontario residents will see the biggest tax hit in 2011 — an average increase of 4.3 per cent based on various family and income scenarios.
Canadians earning more than $44,200 annually will pay an additional $76 in EI and CPP premiums in 2011, while employers pay an additional $110 in payroll taxes, the CTF says.
Making the B.C. hike harder to swallow, Fildebrandt said, is the fact that Premier Gordon Campbell had promised British Columbians a 15-per-cent tax reduction on the first $72,000 in income in an Oct. 27 TV address. The tax cut was later reversed by cabinet after Campbell announced he would step down as premier.
“While B.C. is seeing the second-largest hike in taxes this year nationally, it should have been seeing one of the largest cuts in its history,” he said. “It should have been seeing a 15-per-cent cut in the provincial share of its income taxes.”
"EI and CPP are the common villains," he said. "Everybody across the country is going to suffer from the government's decision to create all these new programs they want to fund through the EI fund."
The federation's annual new year tax change calculations, which were based on several income and family scenarios adjusted to inflation, found there will be a national average two per cent increase in 2011 over 2010.
Traditionally, the federation's calculations have predicted some winners and some losers, depending on individuals' income level, family scenarios and the province in which they live, Fildebrandt said. But this year, that trend has been bucked.
"This year, everyone loses," Fildebrandt said. "Although, some more than others.
"In every province, family and income scenario, our research finds that the government's take from inflation-adjusted incomes will increase, in some cases, substantially."
Federal payroll tax increases, effective Jan. 1, will affect almost every Canadian worker — but those living in provinces with rates of inflation above the national average will see even bigger increases.
Ontario, for example, will see an average increase of 4.3 per cent, according to the scenarios the federation analyzed. A single-income family in Ontario earning $45,000 in 2010 looks poised for a 5.1 per cent increase on the taxable portion of the income — or $389. A double-income family earning $80,000 will be paying 3.5 per cent more on the taxable portion of that income — or $590 — the calculations show.
The average increase in Nova Scotia will be 2.8 per cent, according to the study. A double-income family earning $60,000 in that province, will see a 2.9 per cent hike on the taxable amount they owe, meaning they will pay $345 more.
"The federal government likes to talk about stimulus a lot," Fildebrandt said. "But normally, stimulus is just code word for borrowing money and spending it on road signs and hockey arenas . . . The best and only kind of stimulus that works is tax cuts."
http://www.vancouversun.com/business/Can...3855/story.html
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#5272238 - 12/29/10 09:49 AM
Re: Here we go again...
[Re: Risky Business]
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Senor Eduardo_82
miataist
Post Master Supreme
Registered: 01/09/03
Posts: 38036
Loc: Ca�ada
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I guess I need to pick up some more side jobs to offset the difference. Hurry up and get the wedding booked Vas, so Wayne and I can shoot it.
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#5272250 - 12/29/10 09:57 AM
Re: Here we go again...
[Re: Risky Business]
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JSIR
Post Master Sr
Registered: 11/06/99
Posts: 6411
Loc: London, Ontario, Canada
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if nothing else please vote to get rid of McSwindle during the next election, he has run this Province into the ground. Loss industry, higher unemployment and the rest of the working people get jacked to pay the added costs. To make things worse WSIB rates are skyrocketing too, it wont' affect employee take home pay but employers are being hit hard on their premiums regardless of their claims record.
I can't stand how the middle-class ends up paying higher increases than lower income earners. All of the tax breaks out there are for low income earners, as part of the middleclass I qualify for zero tax breaks and I have to pay higher rates for EI and CPP on top of that. All of the tax benefits are for people that don't pay taxes as far as I can tell.
_________________________
 02 S2000- Summer toy 12 Ford Explorer - Daily driver/Winter ride
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#5272264 - 12/29/10 10:06 AM
Re: Here we go again...
[Re: JSIR]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29157
Loc: Toronto
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The province continues to go to garbage.....
_________________________
-Jeff
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#5272369 - 12/29/10 10:40 AM
Re: Here we go again...
[Re: JSIR]
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Astroboy93
Post Master Jr
Registered: 07/09/02
Posts: 1666
Loc: Toronto, ON
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if nothing else please vote to get rid of McSwindle during the next election, he has run this Province into the ground. Loss industry, higher unemployment and the rest of the working people get jacked to pay the added costs. To make things worse WSIB rates are skyrocketing too, it wont' affect employee take home pay but employers are being hit hard on their premiums regardless of their claims record.
I can't stand how the middle-class ends up paying higher increases than lower income earners. All of the tax breaks out there are for low income earners, as part of the middleclass I qualify for zero tax breaks and I have to pay higher rates for EI and CPP on top of that. All of the tax benefits are for people that don't pay taxes as far as I can tell.
Dude, did you even read the article? CPP and EI taxation rates are set at the Federal Level. This part of the increase has nothing to do with Ontario or the Ontario Liberal Government. If you want someone to blame, it is the Federal Conservatives. Maybe if Harper didn't spend $1 Billion to host the G20, $50 Billion on a Stimulus Package which did fuck all, over $5 Billion bribe to Ontario and BC to convince them to implement HST, etc... maybe just maybe we wouldn't need this tax incraese.
This screams of conservatism and fiscal responsibility 
edit - almost forget the EI Surplus...
http://www.thetelegram.com/Opinion/Edito...2%80%88Harper/1
We don't have fiscally responsible conservatives in this country. We have Harper and Iggy. Harper will rape the country blind and cover up most of it b/c they are good at it. Iggy is a dumb fuck at scamming and b/c of Liberal stupidity, they will get busted easily and only their fuckups will shine in the Media. Like come on, people still talk about the Sponsorship scandal. Give me a break, the Conversatives aren't angels and are way worse at robbing me and you. They just have better PR.
Edited by Astroboy93 (12/29/10 10:46 AM)
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#5272392 - 12/29/10 10:49 AM
Re: Here we go again...
[Re: c2k]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29157
Loc: Toronto
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the joys of being taxes some more.
hmm.. maybe I should move to london, UK
Cost of living there is pretty high my friend - forget the taxes
_________________________
-Jeff
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#5272813 - 12/29/10 01:09 PM
Re: Here we go again...
[Re: Astroboy93]
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JSIR
Post Master Sr
Registered: 11/06/99
Posts: 6411
Loc: London, Ontario, Canada
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if nothing else please vote to get rid of McSwindle during the next election, he has run this Province into the ground. Loss industry, higher unemployment and the rest of the working people get jacked to pay the added costs. To make things worse WSIB rates are skyrocketing too, it wont' affect employee take home pay but employers are being hit hard on their premiums regardless of their claims record.
I can't stand how the middle-class ends up paying higher increases than lower income earners. All of the tax breaks out there are for low income earners, as part of the middleclass I qualify for zero tax breaks and I have to pay higher rates for EI and CPP on top of that. All of the tax benefits are for people that don't pay taxes as far as I can tell. Dude, did you even read the article? CPP and EI taxation rates are set at the Federal Level. This part of the increase has nothing to do with Ontario or the Ontario Liberal Government. If you want someone to blame, it is the Federal Conservatives. Maybe if Harper didn't spend $1 Billion to host the G20, $50 Billion on a Stimulus Package which did fuck all, over $5 Billion bribe to Ontario and BC to convince them to implement HST, etc... maybe just maybe we wouldn't need this tax incraese. This screams of conservatism and fiscal responsibility edit - almost forget the EI Surplus... http://www.thetelegram.com/Opinion/Edito...2%80%88Harper/1We don't have fiscally responsible conservatives in this country. We have Harper and Iggy. Harper will rape the country blind and cover up most of it b/c they are good at it. Iggy is a dumb fuck at scamming and b/c of Liberal stupidity, they will get busted easily and only their fuckups will shine in the Media. Like come on, people still talk about the Sponsorship scandal. Give me a break, the Conversatives aren't angels and are way worse at robbing me and you. They just have better PR.
Yup you are totally correct on that, EI and CPP are Federal programs, as our tax laws, and our Federal political choices suck across all 3 parties. But this Province is still going to shit, we are officially a have-not Province. EI needs more funding as Ontario is now drawing more funds, we used to prop up the system when people were actually working in this Province.
The HST isn't a bad idea, it was just designed poorly in Ontario.
The Provincial Liberals take full responsibility for the state of the HST regardless of what the Feds did or didnt' do. They had full power to design the Ontario program and they got it wrong. They were at least 5 years behind the 8-ball on that one. The companies they wanted to benefit with tax rebates and lower Corporate taxes are long gone, and they've reduced Corporate taxes much more than the increase in consumer taxes created under the program. The HST as it stands will add to the growing Provincial deficit. As bad as EI and CPP increases are, the HST takes much more money out of our pockets on a yearly basis. We are taking a big hit in our disposable income going into 2011.
Edited by JSIR (12/29/10 01:21 PM)
_________________________
02 S2000- Summer toy 12 Ford Explorer - Daily driver/Winter ride
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#5273089 - 12/29/10 02:34 PM
Re: Here we go again...
[Re: JSIR]
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qwiksi
Member
Registered: 05/28/00
Posts: 877
Loc: North Pole
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Fuck Dalton and the all the assholes who keep voting Libreals.
Just got my auto insurance renewal in the mail and thanks to those useless changes he made it went up $600!! New taxes left,right and center,property tax increses,gas needed to earn a living to pay all these taxes,electricity rate hikes and now this.When does it stop?
Its getting really hard to live a basic lifestlye and me and my wife together earm good money.I bet we fall back into a reccession again before things get better,nobody has money to spend anymore.
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#5273092 - 12/29/10 02:35 PM
Re: Here we go again...
[Re: qwiksi]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29157
Loc: Toronto
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Yup - pure BS.
_________________________
-Jeff
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#5273147 - 12/29/10 02:53 PM
Re: Here we go again...
[Re: Choco 'Nuck]
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87ZCSi
Post Master Sr
Registered: 09/06/00
Posts: 7174
Loc: Portland and Toronto
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#5273594 - 12/29/10 05:28 PM
Re: Here we go again...
[Re: JEFFOS]
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c2k
Post Master Supreme
Registered: 05/21/00
Posts: 19293
Loc: Wiesloch-Walldorf, Germany
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the joys of being taxes some more.
hmm.. maybe I should move to london, UK Cost of living there is pretty high my friend - forget the taxes
I *had* an offer to move there for one of the largest printing company in europe but I turned it down cuz I didnt want to be away from my boy. If I could, I'd take him w/ me and move there and the amount they were offering me were excellent but.... nah.
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Who cares
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#5274055 - 12/29/10 09:54 PM
Re: Here we go again...
[Re: Screamin Type ARGH!]
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xza8
Sr Member
Registered: 12/18/09
Posts: 1065
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Hire a tax planner to minimize your tax liability
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#5274461 - 12/30/10 08:52 AM
Re: Here we go again...
[Re: Senor Eduardo_82]
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iamfob
Post Master Supreme
Registered: 09/06/02
Posts: 24698
Loc: Out There
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really wish i have a job offer in Southern California How many have you applied for?
nothing yet, i was there for vacation in september. my friends who live there said the job economy is pretty shitty. but the climate is full of win
_________________________
 FTMFW!!! 
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#5274478 - 12/30/10 08:58 AM
Re: Here we go again...
[Re: Euphoricuck]
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f22b-dohc
Post Master Supreme
Registered: 09/09/05
Posts: 11227
Loc: canadia
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LOL london?
and you complain about here? I suggest you do some research
+1000000000000000
_________________________
JB weld is your friend
Chewbacca makes me yawn *Yawn*
"rolling -----on my 2.0, with the rag top down so my hair can blow..."
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#5274525 - 12/30/10 09:17 AM
Re: Here we go again...
[Re: iamfob]
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Just A Troll
Curved Street Thug Life
Post Master
Registered: 09/24/09
Posts: 2221
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really wish i have a job offer in Southern California
Isn't California in the middle of a huge financial crissis?
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#5274570 - 12/30/10 09:35 AM
Re: Here we go again...
[Re: f22b-dohc]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44867
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LOL london?
and you complain about here? I suggest you do some research +1000000000000000
London isn't that bad actually. My gf came back after being there for 3 months and cost of living is very similar, HOWEVER there is a lifestyle adjustment that you have to make.
The reason people think it's expensive is because they are comparing house prices here to house prices there. Living in a house in London isn't the norm, it's the exception. People live in apartments, owning 1 vehicle per household is the norm, not 1 vehicle per person. Factor in the different lifestyle and it's actually cheaper.
You can't compare London to Toronto in absolute terms.
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#5274608 - 12/30/10 09:52 AM
Re: Here we go again...
[Re: Senor Eduardo_82]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44867
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Different social *norms* that's all. They are anti vehicle there for sure (having to pay to enter the core of London) etc.
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#5274676 - 12/30/10 10:18 AM
Re: Here we go again...
[Re: Risky Business]
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c2k
Post Master Supreme
Registered: 05/21/00
Posts: 19293
Loc: Wiesloch-Walldorf, Germany
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LOL london?
and you complain about here? I suggest you do some research +1000000000000000 London isn't that bad actually. My gf came back after being there for 3 months and cost of living is very similar, HOWEVER there is a lifestyle adjustment that you have to make. The reason people think it's expensive is because they are comparing house prices here to house prices there. Living in a house in London isn't the norm, it's the exception. People live in apartments, owning 1 vehicle per household is the norm, not 1 vehicle per person. Factor in the different lifestyle and it's actually cheaper. You can't compare London to Toronto in absolute terms.
///
I fucking *love* how you guys automatically assume and right away know off the bat that I know nothing about London. What do you guys know me??? I m half scotish and I have families scattered all over the UK and the last time I went to UK was 2005 and I went there fairly often. I know what the cost of living is like there and the public transportation is just a million times better and affordable!
The cost of living is similar to here in toronto and I wouldnt plan on living in downtown london or london. I'd live in a flat in the suburban area of london kinda like how I live in the suburban area of toronto right now. In fact the company isnt located right in the heart of london, it is located in the suburban area of london as well.
frankly my only gripe there is certain food that I like are a wee bit expensive but nothing to cry over about. if I was to move there and to live there, I'd become a citizen bc my dad was born in scotland and I'd get the health care and all that. One nice thing about the UK healthplan is, dental is covered and yet a lot of those brits dont take advantage of it. lol
don't ASS-U-ME.
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#5274697 - 12/30/10 10:27 AM
Re: Here we go again...
[Re: c2k]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44867
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Food is mostly organic there, hence the slight price increase. The other nonsense is you generally have to grocery shop every 2-3 days as food goes bad quick.
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#5274723 - 12/30/10 10:36 AM
Re: Here we go again...
[Re: f22b-dohc]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44867
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take in consideration leaving friends/family and the shitty weather over there, its not enough for me. --i'd probably blow my money on travelling there.
he is staying here to work...he hated it there 
What does that have to do with the cost of living there? You don't like that lifestyle, which I totally understand as I'd never want to live there, but at the end of the day cost of living is comparable.
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#5274767 - 12/30/10 10:53 AM
Re: Here we go again...
[Re: Risky Business]
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f22b-dohc
Post Master Supreme
Registered: 09/09/05
Posts: 11227
Loc: canadia
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nothing, it's his experience; like my younger brother who lived and worked there for 6 months.
let me poke around for prices. i aint got shit to do here at work today
Edited by f22b-dohc (12/30/10 10:55 AM)
_________________________
JB weld is your friend
Chewbacca makes me yawn *Yawn*
"rolling -----on my 2.0, with the rag top down so my hair can blow..."
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