The Alternative Minimum Tax is getting a lot of coverage in the US since changes made by Reagan in the 80s are causing it to affect 80% of “families with an adjusted gross income of $75,000 to $100,000,” in other words, a lot of frickin’ families. When the tax was first introduced in 1969, itContinue reading “AMT woes south of the border – what about us?”
Tag Archives: tax
Simpler corporate income tax filing requirements
An agreement reached between the Canadian Federal government and the provincial Ontario government will simplify corporate taxes by 2009. The Ontario tax return, known as the CT23, will be amalgamated with the Federal return. Ontario Finance Minister Greg Sorbara had this on the much-lauded move: “Businesses have been asking us to reduce administrative overlap andContinue reading “Simpler corporate income tax filing requirements”
Love tax theory, hate tax application
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, isContinue reading “Love tax theory, hate tax application”
The ideal tax system
“The ideal tax system … is neutral to business activity. In such an ideal system, individuals and businesses would base their economic decisions solely on the merits of the transactions, without regard to tax implications. In reality, tax-induced economic distortions are a fact of life, and a more realistic goal is to maximize the occasionsContinue reading “The ideal tax system”
Keep the income tax cuts, ditch the GST cut
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 incomeContinue reading “Keep the income tax cuts, ditch the GST cut”