Quote:
Originally Posted by Mean Mr. Mustard
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.
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Yes and no. Ontario has a General corporate tax rate of 11.5% and a 10% tax rate for Manufacturing and Processing and tax holidays are available to certain corporations.
As to the rest of your statement you are probably right. I just have problems with a 20% increase in the tax rate when you go from 10% to 12%.