We have an election coming up very soon here in Canada.
The one to the south of us seems to be garnering more attention simply because of the ‘colourful’ characters that are involved.
I have been reviewing the platforms for all of those concerned up here in Canuck land.
I am really pissed off with the attack ads the Conservatives have launched since God knows when.
I don’t want to listen to why another candidate is deemed ‘unworthy’ by another political party.
Tell what you can do for this country, for her citizens. That is my interest. I don’t care if one of the candidates has nice hair.
What a politician looks like is irrelevant.
Under the Harper administration we are in fact paying more tax than we were when he first took power.
What you need to understand is the tax structure. It is a maze really.
Now, what I’ve decided to do is attached the last six years Income Tax Rate for Federal Tax only. I’m also attaching a spreadsheet I created to show the this side by side.
I used five salary bases to show how much tax you are paying.
Now at first glance you might think, wow the tax rates came down!
It’s really very deceiving. Those making more money are slipping into a lower tax bracket.
The salaries I listed $42,000, $55,000 and $78,000 all fall within the same tax bracket.
In fact $42,000 slips into the lowest tax bracket eventually.
Those who are earning the least have found no tax relief.
This is a very basic model that I’ve created. My purpose for this is to show those earning the most are indeed paying the least amount of tax.
Take into account the cost of living these days and the multitude of other taxes we are encumbered with and you will begin to understand why many feel a great deal of political apathy.
But we should care.
It is critical that we take the time to understand, even a little, how taxation works in Canada because it’s killing us.
When families have to make the choice whether to heat their homes or buy food then you know there is a major problem.
The following excerpt is from the Globe & Mail online edition.
‘It’s making an already unaffordable market even more unaffordable, but buyers seem unfazed at paying record prices for houses that have gone up 35 per cent since 2009. Real Estate Board of Greater Vancouver data shows an average sales price of a detached house for March, 2014, of $1.213-million. That number dropped from February, when the average was at $1.367-million. Back in January, 2009, the average price was $783,721.’
Wow! Housing up approximately 35% in just six years!
Did your salary keep pace? No and in fact, salaries really have not changed all that much.
And yet Stephen Harper will tell you he’s done an awesome job managing this country.
At the end of last year, as of December 2014, the average wage for Canadian employees was $943 a week – or just over $49,000 a year. This marks a 2% increase over the same period a year earlier.
Average Canadian salary by province
- Newfoundland and Labrador – $52,572
- New Brunswick – $44,044
- Nova Scotia – $42,992
- Prince Edward Island – $41,184
- Quebec – $44,621
- Ontario – $49,088
- Manitoba – $45,760
- Saskatchewan -$51,792
- Alberta – $60,476
- British Columbia – $46,900
AVERAGE HOUSING COSTS IN MAJOR CITIES IN CANADA AS OF JUNE 2015
|Vancouver, BC||$922,000||+ 16 %|
|Toronto, Ont||$639,000||+ 12 %|
|Calgary, Alb||$466,000||– 0.2 %|
|Ottawa, Ont||$383,000||+ 5.0 %|
|Montreal, Que||$341,000||+ 2.6 %|
|Regina, Sask||$316,000||+ 2.6 %|
|Halifax, NS||$291,000||+ 4.8 %|
|Fredericton, NB||$179,000||– 6.8 %|
AVERAGE HOUSING COSTS BY PROVINCE AS OF JUNE 2015
|British Columbia||$632,000||+ 14 %|
|Ontario||$477,000||+ 9.3 %|
|Alberta||$403,000||– 1.0 %|
|Quebec||$278,000||+ 1.7 %|
|Saskatchewan||$303,000||+ 0.3 %|
|Newfoundland / Labrador||$280,000||– 4.6 %|
|Manitoba||$273,000||– 0.3 %|
|Nova Scotia||$236,000||+ 7.1 %|
|Prince Edward Island||$167,000||+ 0.3 %|
|New Brunswick||$164,000||– 1.3 %|
|Canadian Average||$453,000||+ 9.6 %|
Take a good look at this. Then look where we in BC stand regarding the average wage and ask yourself who is buying all of these houses?
In any case I have assembled this information hoping to inspire you to get out and vote and become involved.
Ask those who are running in your area to answer a few questions about the economy, education, jobs and all the rest of it.
Under Harper’s regime we have definitely seen tax hikes. What his cabinet has managed to do is take away tax incentives such as the child tax credit and strip it down, shake it up and present it as something that’s even better than before.
And sadly, they are not.
I will be forwarding this document to those running in my area and I will be asking them how they plan to provide tax relief to their communities, and to their countries.
I want to know how they’ll correct astronomical cost of living and how they’ll assist those who are most vulnerable.
I went through cancer treatment without the benefit of extended health benefits offered at work. Consequently, I took very little time off. I took just two weeks off after surgery and took the day’s off that I was being fed chemo.
I’m fortunate that I looked at other means by which to deal with the side effects. Still there are some that have had a taxing effect on me.
Hell, I’m pissed off that they don’t offer free parking to cancer patients. They should. I’ve got parking tickets galore that I refuse to pay because I couldn’t just jump out of the doctor’s office or wherever I was at in the Cancer Agency to feed the meter.
I believe there are solutions to these issues and will be presenting them soon.
In the meantime, please start looking closely at those wanting to run Canada for the next 5 years and those who’ve been running the show.
Exercise your right to vote and encourage everyone that you know to do the same.
We can have a better, more efficient governing body. And more importantly they need to be accountable.
I really believe that together we can make a difference and welcome any and all comments regarding the up coming election.
Below are the tax brackets taken from Canada Revenue website.
Federal Income Tax Rates for 2009:
- 15% on the first $38,832 of taxable income, +
- 22% on the next $38,832 of taxable income (on the portion of taxable income between $38,832 and $77,664), +
- 26% on the next $48,600 of taxable income (on the portion of taxable income between $77,664 and $126,264), +
- 29% of taxable income over $120,887.
Federal Income Tax Rates for the Year 2010:
- 15% on the first $40,970 of taxable income, +
- 22% on the next $40,971 of taxable income (on the portion of taxable income between $40,970 and $81,941), +
- 26% on the next $45,080 of taxable income (on the portion of taxable income between $81,941 and $127,021), +
- 29% of taxable income over $127,021
Income Tax Rates for the Year 2011:
- 15% on the first $41,544 of taxable income
- 22% on the next $41,545 of taxable income (on the portion of taxable income between $41,545 and $83,088)
- 26%on the next $83,089 of taxable income (on the portion of taxable income between $83,089 and $128,880)
- 29% of taxable income over $128,800
Income Tax Rates for the Year 2012:
- 15% on the first $42,707 of taxable income
- 22% on the next $42,707 of taxable income (on the portion of taxable income between $42,707 and $85,414)
- 26%on the next $85,414 of taxable income (on the portion of taxable income between $85,414 and $132,406)
- 29% of taxable income over $132,406
Income Tax Rates for the Year 2013:
-Federal personal income tax rates below (provincial income tax rates are not included)
- 15% on the first $43,561 of taxable income
- 22% on the next $43,562 of taxable income (on the portion of taxable income between $43,562 and $87,123)
- 26%on the next $87,124 of taxable income (on the portion of taxable income between $87,124 and $135,054)
- 29% of taxable income over $135,054
- Income Tax Rates for the Year 2013:
Income Tax Rates for Year 2014
- 15% on the first $43,953 of taxable income
- 22% on the next $43,954 of taxable income (on the portion of taxable income between $43,954 and $87,907)
- 26%on the next $48,363 of taxable income (on the portion of taxable income between $87,908 and $136,270)
- 29% of taxable income over $136,270
**Click on the link below to pull up a PDF of the spreadsheet I created based upon the above.