The Canadian government released a mini-budget this past week that featured serious tax cuts. The GST goes down another point to 5% and the lowest bracket of personal tax is lowered back down to 15%. Corporate taxes continued their downward trajectory. The CICA focused first on the reduction to corporate taxes: “The government’s commitment to […]

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This recent post on the SME Blog talks about the recent changes the UK has made to VAT, in that they are now offering small businesses the ability to account for and remit VAT on a cash basis, rather than accrual: The VAT cash accounting scheme allows you to account for VAT (output tax) on […]

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Tax is a subject that is near and dear to my heart, but not because I occasionally fill out a tax return. Tax theory is fasci­nating and relevant stuff, but I won’t ask you to take my word for it. I think the reason why I like tax theory but hate applying tax law, is because […]

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David Dodge, the governor of the Bank of Canada and the current architect of our monetary policy, suggested the province of Ontario should revamp the provincial sales tax (PST) to more closely resemble the value-added federal GST in a rare appearance before the Commons industry committee. The suggestion is a solid one, as it would […]

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I read in the Star yesterday that the income tax cuts enacted by the Liberals before their fall from power and effective January 1, 2006 may be kept by the Conser­v­ative government, which has all along threatened to reinstate them to make room for their GST cut. I have always been in favor of income tax […]

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