Quote:
Originally Posted by Rerun
Well since the deficit for 2015 is forecast at $6.2 Billion and adopting a progressive flat tax regime for personal income tax would bring in up to $13.6 billion in additional revenue for the province, I really don't see the point in raising the corporate tax rate from 10% to 12%, particularly since we are competing against other provinces, such as Ontario, who also have a 10% rate.
Business's may not flee but I don't think its unreasonable to suggest that attracting new business might become more difficult.
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Except Ontario has an 11.5% corporate tax rate. I somehow think that it would be possible to bring in a progressive personal income tax and increase the corporate tax rate by even 1% and bring in an extra 400 million dollars to provincial budgets so we can do things like invest in the economy.