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Old 10-04-2019, 08:14 PM   #2
GGG
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Starting With Taxes

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Liberal platform
Raise the basic personal amount to $15,000 by 2023, for taxpayers whose annual salary is less than $147,000 (source)
Cut in half the corporate tax paid by companies that develop and manufacture zero-emissions technologies (source)
Put a 10 per cent tax on luxury cars, boats, and personal aircraft over $100 (source)

Conservative platform

Cut the tax rate on income under $47,630 from 15 per cent to 13.75 per cent (source, PBO analysis)
Effectively remove federal portion of income tax from EI maternity and EI parental benefits by providing a non-refundable tax credit of 15 per cent for any income earned under these two programs (source)
Remove the Goods and Services Tax (GST) from home heating and energy bills (source)
Establish a single tax return for Quebec, administered by the province (source)
Bring back the Harper-era public transit tax credit of up to 15 per cent on monthly and weekly transit passes or electronic fare cards (source, PBO analysis)
Relaunch a children’s fitness tax credit so parents can claim up to $1,000 for expenses related to fitness and sports activities (source, PBO analysis)
Relaunch a children’s arts tax credit to claim up to $500 for expenses related to arts and educational activities (source, PBO analysis)
Increase the government’s contribution to an RESP from 20 per cent to 30 per cent for every dollar invested up to $2,500 a year (low-income parents would receive 50 per cent on the first $500 they invest every year) (source, PBO analysis)
Reduce personal income tax payable by exempting the spouses or common-law partners of individuals who own a Canadian-controlled private corporation from the tax on split income (source, PBO analysis)
Restore full access to the small business tax rate for corporations earning more than $50,000 in passive investment income in a given year (source, PBO analysis)
Create a 20 per cent refundable tax credit for green improvements to homes of over $1,000 and up to $20,000 (source, PBO analysis)

NDP platform

Increase the capital gains tax inclusion rate from the current 50 to 75 per cent (source)
Roll back the Conservatives’ corporate income tax cuts by three percentage points to 2010 levels (18 per cent) (source)
Create a “super-wealth tax” of one per cent on wealth exceeding $20 million, including “luxury items” like real estate and investments portfolios. (source, PBO analysis)
Increase the top marginal tax rate by two points to 35 percent (source)
Close stock option loopholes and crack down on shell companies operating in tax havens (source)
Require web giants, such as Netflix, to charge QST and GST, and hold them to the same standards as Canadian cable companies (source)
Put in place a 15 percent foreign buyers tax on purchases of residential property by foreign corporations or people who are not citizens or permanent residents (source, PBO analysis)
Put in place income tax averaging for artists and cultural workers (source)
Double the Home Buyer’s Tax Credit to $1,500 (source)
Waive the federal sales tax on zero-emissions vehicles purchases and provide a $5,000 federal purchase incentive (source)
Make the Canada Caregiver Tax Credit refundable (source)
Expand the Volunteer Firefighters Tax Credit (source)
Put in place a new tax credit for graduates to work in designated rural and Northern communities (source)

Green platform

Establish an arm’s length Federal Tax Commission to analyze the tax system for fairness and accessibility (source)
Increase the federal corporate tax rate from 15 to 21 per cent (source, PBO analysis)
Close several tax loopholes, including stock options as part of an executive’s remuneration package to pay a lower rate and a capital gains loophole (source, PBO analysis, PBO analysis)
Tax funds from offshore havens and require companies prove their foreign affiliates are functioning businesses for tax purposes (source, PBO analysis)
Apply a corporate tax on transnational e-commerce companies doing business in Canada (e.g. Netflix, Facebook, Amazon, Google, Uber) by requiring the foreign vendor register, collect and remit taxes where the product or service is consumed (source, PBO analysis, PBO analysis)
Impose a financial transactions tax of 0.2 per cent in the finance sector (source, PBO analysis)
Charge a five per cent surtax on commercial bank profits (source, PBO analysis)
Exempt new and used electric and zero-emission vehicles from federal sales tax (source)
Implement a tax on large corporations that is equivalent to the income tax paid by employees who have been laid off due to artificial intelligence—with small business being exempt—and use that revenue to fund educational and transition programs for those laid-off (source)
Increase the tax credit for volunteer firefighters and search and rescue volunteers (source)
Introduce an international tax for aviation and shipping fuels earmarked for the Global Climate Fund (source)
Prohibit Canadian business from deducting advertising costs on foreign owned websites, like Facebook or Google (source)
Eliminate the 50 per cent corporate meals and entertainment expense deduction (source, PBO analysis)
Remove the sales tax on medicinal cannabis products (source, PBO analysis)
Tax sugary drinks (source, PBO analysis)
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