176 Search Results for wealth tax

Tax cuts won’t cure what ails us

Oct 2, 2020

Major tax cuts are on the table in BC’s election—namely, cuts to the provincial sales tax (PST) and speculation tax. But these proposals won’t help us meet the challenges the province faces. Whether the goal is economic stimulus, helping households in need or addressing long-term gaps in our social and physical infrastructure, tax cuts are… View Article

Canadian billionaires’ wealth skyrocketing amid the pandemic

Sep 16, 2020

By Alex Hemingway and Michal Rozworski

When you add up the total wealth growth of Canada’s richest 20 billionaires since the March 2020 COVID-19 lockdown, their wealth has ballooned by $37 billion. Data from Forbes’ annual billionaires list and their “real-time billionaires” listing shows that Canada’s top 20 billionaires have amassed an average of just under $2 billion in wealth gains… View Article

Excess profits tax needed to prevent profiteering amid COVID-19

Apr 9, 2020

By Alex Hemingway

People and businesses all over the country and the world are hurting as large parts of the economy have shut down to help stop the spread of COVID-19. But a subset of businesses will see a spike in profits, including in big tech, e-commerce and logistics, and cleaning products, as well as vendors of scarce… View Article

Eliminate and replace it: A better way to reform the basic personal tax amount

Dec 10, 2019

By Alex Hemingway

The new federal Liberal minority government has signalled that a tax cut will be its first order of policy business. That’s a shame because this tax cut will do little for those with low incomes while providing the most benefit to higher income households—and there are better ways to benefit Canadians who need the help…. View Article

Property taxes in Vancouver are still too low, fueling inequality and speculation

Dec 2, 2019

By Alex Hemingway

We’ve heard a lot of griping recently about Vancouver’s proposed property tax increase for 2020, but missing from the debate is a reality check on the city’s extremely low tax rates. Vancouver’s property tax rate is, in fact, the lowest in North America, at just $2.56 per $1,000 in assessed value—or 0.26%. Why is Vancouver’s… View Article

Reality check: Only BC’s very richest paying higher tax rate

Mar 25, 2019

By Alex Hemingway

Under personal tax changes announced by the BC government over the past year and a half—including elimination of Medical Services Plan (MSP) premiums—the vast majority of households are seeing their tax bills fall, while the richest 1% are paying more. This is good news for tax fairness in BC. In a fair system, we pay… View Article

Whose wealth is it anyway? BC’s top 10 billionaires and the rest of us

Dec 12, 2018

By Alex Hemingway and David Macdonald

Economic inequality has exploded in recent decades—globally, in Canada and here in BC. Much of our concern about inequality has focused on the growth of extreme disparities between the incomes of the very rich and those of us on the middle and lower rungs of the income ladder. But there’s been much less focus on… View Article

Employer Health Tax refinements good news for public services, non-profits

Nov 22, 2018

By Alex Hemingway

Just over a month before the new Employer Health Tax comes into effect, we have some of the final details of the tax’s design at hand. The provincial government released implementation details for the tax (EHT) over the summer and introduced legislation to enact it last month. The EHT replaces the deeply unfair Medical Services… View Article

BC’s speculation tax is a key piece of the housing affordability puzzle

Oct 25, 2018

By Alex Hemingway

The BC government has brought forward legislation to implement one of its major policy measures on housing: the speculation tax. In a defence of the tax earlier this year, we outlined why the speculation tax represents an important step in addressing the housing crisis. The tax covers a limited set of geographical areas in BC that have a high demand… View Article

Fighting poverty through tax credit reform

Sep 21, 2018

By Marc Lee

One way to fight extreme inequality is to have a progressive tax system. We mostly think about this in the form of progressive income tax brackets, which are structured so that those who have higher incomes pay higher tax rates. Other taxes, however, like sales tax or the carbon tax, are not necessarily progressive in… View Article

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A progressive take on BC issues

A progressive take on BC issues

176 Search Results for wealth tax

Tax cuts won’t cure what ails us

Canadian billionaires’ wealth skyrocketing amid the pandemic

Excess profits tax needed to prevent profiteering amid COVID-19

Eliminate and replace it: A better way to reform the basic personal tax amount

Property taxes in Vancouver are still too low, fueling inequality and speculation

Reality check: Only BC’s very richest paying higher tax rate

Whose wealth is it anyway? BC’s top 10 billionaires and the rest of us

Employer Health Tax refinements good news for public services, non-profits

BC’s speculation tax is a key piece of the housing affordability puzzle

Fighting poverty through tax credit reform