BC Province HST Income Tax
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HST! a Lesson Learned by BC Politicians
TAX! No one liked to be taxed.
Even it’s good for the economy.
BC politicians thought since they understand the goodness of HST, rest of the BC will follow their lead and will accept a 7% tax increase.
Unfortunately they underestimated the BC residences. Power of the people. It is so exciting to see that people’s voice mattered and with that BC residences brought down leaders of both the parties.
Even a bribe of 15% income tax cut by departing Premier could not help him to stay in power.
Updating……
Income Tax: investment
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Why Borrowing to Invest in RRSP is a Bad Idea?
RRSP season is coming.
You still have two more months to top up your RRSP contribution. If you have fully used up your RRSP contribution room for 2009, your 2010 RRSP contribution limit will be 18% of your 2009 earned income to a maximum of $22,000. You might have more contribution room if you have unused RRSP from previous years.
RRSP is a tax deferred investment. You do not pay any tax on your RRSP contribution as long as you keep your investment in your RRSP account. Once you start to withdraw money from your RRSP account, it become fully taxable during the year it is withdrawn, except for Home Buyer Plan. HBP is like taking a loan from your RRSP account and you must pay it back. If you do not repay and fill up your RRSP account, unpaid amount is included in your income and is taxable.
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Income Tax
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After Tax Income to Increase for Some Canadians
Canadian Taxpayers Federation (CTF) has came out with a detail analysis of new year tax increase on different provinces.
Among all the provinces BC residences will have the highest increase in taxes, which is estimated to be 2.9% more than previous year.
Contributing factor to this higher tax is increase in B.C. are MSP premiums, increase in Employment Insurance (EI) and Canada Pension Plan (CPP) source deduction.
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Income Tax: IRS Tax Rate US Tax
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Obama Tax Cut Deal Will Cost U.S. For The Long Run
The Bush tax cut has been extended for two more years and it is now called the Obama Tax Deal.
Bush tax cut has been effective since 2002 when the U.S. economy was doing rather good. But since then, with housing market collapse and unemployment of millions of people, the economy has been spiraling downward.
It does not make any logical sense to me to claim that extending the Bush cut will create jobs for American People.
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Income Tax: Tax Payer US Tax
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Income Tax Is The Divider In US Senate
Here is one glowing example of how important Income Tax is in our daily life and politics.
As a country U.S. is in a dire economic situation.
After all the news, views of political pundits that recession is over, they got a so called “shock of a lifetime” with U.S. labour market job data.
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