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Originally Posted by OMG!WTF!
This seems to clarify some of the tax questions...
http://business.financialpost.com/fp...murray-edwards
Looks like it costs $250 to cut and paste from Post articles now. But what stands out is that Canada is now one of the highest tax jurisdictions for wealthy people at 53%. Only Sweden, Denmark, and France are higher in the western world. Great Britain has a special "non-domicile" tax rate, close to 0%, specifically for rich ex pats and it works....lots of rich people move there for that reason. Edwards was looking at a 20% increase in income tax, 23% increase in capital gains and a 50% increase in dividend taxes so he left. Not a real head scratcher. |
Wikipedia tells me the UK's top marginal tax rate is 60%. So whatever their special policy is for rich immigrants, they tax their own rich at a higher rate than Canada does.
And France's highest rate is 75%, Belgium's is 64%, Finland is 62%, Netherlands is 56%, and the U.S. is 56%. It's also worth noting that all of those countries, with the exception of the U.S., have a VAT (sales tax) of 15-25 per cent.
Anyone who thinks Canada has a high tax regime is clueless.
List of countries by tax rates