Welcome to the Canadian world

  • Pre-travel Planning - Official Documents You Need To Translate Before International Travels

    Pre-travel Planning - Official Documents You Need To Translate Before International Travels

  • Canada faces passport backlog

    Canada faces passport backlog

  • Quebec's recycling system expands in 2025

    Quebec's recycling system expands in 2025

  • Honda and Nissan merge in response to industry transformation

    Honda and Nissan merge in response to industry transformation

  • Travel warnings for Canadians planning international trips

    Travel warnings for Canadians planning international trips

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Lifestyle & Fashion

  • Controlling stress - lessons from rats that could improve human resilience

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  • Understanding perfectionism and how to overcome it

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  • Alberta’s government updates junior high school curriculum

    Alberta’s government updates junior high school curriculum Alberta’s education system is undergoing significant changes. After completing updates to the elementary curriculum, the focus is shifting to grades 7 to 10. These adjustments aim to modernize the curriculum, making it more relevant to today’s needs. Table of Contents Key priorities for curriculum updates Concerns raised by Alberta Teachers’ Association Timeline and consultation process Modernizing education for future needs Read More
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Health & Beauty

  • How much water should you drink? Myths and facts explained

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  • Managing alcohol consumption during festive gatherings

    Managing alcohol consumption during festive gatherings The holiday season is a time for celebration, often accompanied by social events where alcohol is served. Drinking responsibly is important to avoid health risks. Learning how to manage alcohol intake can help you enjoy the festivities without negative consequences. Read More
  • Freezing rain warnings issued for eastern Ontario and western Quebec

    Freezing rain warnings issued for eastern Ontario and western Quebec Environment Canada has issued freezing rain warnings for Saturday, affecting areas in western Quebec and much of eastern Ontario. The weather agency has advised residents to prepare for potentially hazardous conditions, with icy roads and walkways expected throughout the region. Read More
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Cars & Tech

  • Quebec's recycling system expands in 2025

    Quebec's recycling system expands in 2025 Starting January 1, 2025, Quebec will implement significant changes to its recycling system. These updates will expand the list of recyclable materials and aim to tackle persistent waste management challenges while promoting sustainable practices. Read More
  • How to remove a popcorn ceiling and what to pay attention to

    How to remove a popcorn ceiling and what to pay attention to Ceilings with a textured popcorn finish were popular in the past, but today many prefer smoother and more modern options. If you decide to update your interior and get rid of such a solution, then you should contact specialists. Professional ceiling popcorn removal will help ensure the best result and minimize possible risks in the process. If you follow all the recommendations and rules, the result will please and bring pleasant changes to the interior. Read More
  • Boost Campaigns with Stunning Stock Images

    Boost Campaigns with Stunning Stock Images In today's digital-first world, marketers are constantly seeking ways to make their content stand out. Read More
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Food & Travel

Wealthiest Canadians' Tax Contributions

Recent discussions in Canada have spotlighted the tax contributions of the wealthiest citizens, especially in light of proposed changes to capital gains taxes. This debate is fueled by a report from the Fraser Institute, which claims that the top 20% of income earners pay nearly two - thirds of all personal income taxes. The question of what constitutes a "fair share" of taxes is complex, particularly when economic data suggests significant contributions from high - income families.

Who Bears the Tax Burden?

The Fraser Institute's 2023 report highlights that the top 20% of income earners are responsible for 61.9% of the nation's personal income taxes, even though they earn just under half of Canada's total income. These statistics become even more striking when considering the top 10% and 1% of earners, who pay 54.4% and 22.5% of all income taxes, respectively. According to Jake Fuss, director of fiscal studies at the Fraser Institute, these figures demonstrate that high-income Canadians are paying disproportionately more in taxes compared to their share of total income.

Government's View on Fairness

In response, the federal government argues that the current tax system is skewed in favor of the wealthy, particularly regarding capital gains income. The 2024 budget proposal includes an increase in the inclusion rate for capital gains tax from one - half to two - thirds for gains exceeding $250,000 annually for individuals, and on all gains for corporations and trusts. This change aims to adjust the benefits that disproportionately favor wealthier Canadians, affecting only 0.13% of the population with an average income of $1.4 million.

Counterarguments on Tax Fairness

Despite these figures, some experts argue that the data does not capture the full picture of fiscal fairness. Allison Christians, the H. Heward Stikeman Chair in the Law of Taxation at McGill University, points out that top earners often pay a lower percentage of their income in consumption taxes, and can employ sophisticated tax planning strategies to shield their income. Moreover, Clement Nocos from the Broadbent Institute emphasizes the broader context of income inequality, noting that the wealthiest 20% hold over two-thirds of the country’s total net wealth, highlighting a significant wealth gap.

The debate over what constitutes a fair share of taxes in Canada is ongoing and complex. While high-income families do contribute a significant portion of personal income taxes, this does not necessarily equate to a proportionate or fair contribution to Canada's overall financial health. The discussion touches on deeper issues of wealth inequality and the effectiveness of the tax system in addressing these disparities. As policymakers consider adjustments to the tax code, the definition of fairness remains a contentious and central issue.

Source: CBC