Taxation In Canada Essay

774 words - 3 pages

Taxation levels are very complicated for Canadian citizens. I believe that Canada will economically break free when taxation levels become less onerous.
Government regulation hits our pocketbooks as surely as taxes do, but there is little information available about its cost. At a time when deficit spending is out of favour, and there is little appetite for tax increases, this lack of accountability makes regulation a tempting way for governments to achieve their goals without increasing their spending. Between 1975 and 1999, over 117,000 new federal and provincial regulations were enacted, an average of 4,700 every year. Over this twenty-four year period, federal and provincial governments have published over 505,000 pages of regulations contained in volumes that measure 10 stories when stacked.
The cost of complying with government regulation totaled an estimated $103 billion in 1997. The cost of regulatory compliance is borne largely by consumers since business pass on much of the cost of regulatory compliance as higher prices for goods and services. In 1997, regulatory compliance cost individual Canadians approximately $13,700 per family of four. The embedded cost of regulatory compliance exceeds spending on every item except shelter in Canadian households' after tax budgets.
One of the consequences of regulation not captured by measuring its direct cost (administration and compliance) is the severe limits it can impose on people's freedom to make their own choices based on their individual circumstances and tolerance for risk. Government regulation also dampens innovation, delays development of products, stifles entrepreneurship, restricts competition, and slows growth of productivity.
For example, today, taxes are imposed on just about everything that a Canadian does, or purchases. Smokers could be a good example of this. Taxes impose severe limits on people's freedom to make their own choices by raising the price of cigarettes by a large amount of tax. Also, gasoline is severely taxed in today's economy. High gas prices suspend citizens from traveling as much as they may wish.
Freedoms within Canada do not rely on tax regulations, alone. They rely on many other regulations of our every day lifestyles. For example, the increased use of surveillance cameras shows this. In cities like Calgary, transit buses now have security cameras installed. Naturally, bus fares keep going up to pay for all the added costs. Therefore, a regular bus fare is $ 2.75. This is very unaffordable for...

Find Another Essay On Taxation in Canada

Canada and Brain Drain Essay

2773 words - 11 pages timely government intervention. Such intervention could include combating brain drain through brain gain, taxation, wage and other incentives to prevent brain drain and dealing with brain drain through brain train.The brain drain in Canada is largely represented by the exodus of better-educated, high-income earners and people of prime working age (Statistics Canada). However, Canada is one of the few nations today that is perceived as one of the

Country Risk and Strategic Planning Analysis Paper

2896 words - 12 pages International business policies. Specifically, it's stance on repatriation of funds, which "usually refers to returning returns on a foreign investment in the case of a corporation, or transferring foreign earnings home in the case of an individual" (WebFinance, Inc, n.d.).Taxation and Double Taxation RisksOur taxation risk analysis addressed our concerns with taxation; specifically our concern with double taxation. "Canada protects against double

Socials Exam Paper

756 words - 4 pages ending up with very little or no money. In today’s society, taxation is no longer a problem as nowadays, in Canada and most of the countries in the world, taxes are now based on income: 15% on the first $43,953 of taxable income, 22% on the next $43,954 of taxable income (on the portion of taxable income over $43,953 up to $87,907), 26% on the next $48,363 of taxable income (on the portion of taxable income over $87,907 up to $136,270), 29% of

Who Did NAFTA Benefit the Most?

1533 words - 6 pages After a lengthy negotiation of over 3 years, Canada, the United States, and Mexico reached an agreement on trilateral trade ― the North American Free Trade Agreement (Scaliger). Commonly referred to as NAFTA, it came into effect on the first day of 1994. Covering 450 million people and reaching $17 trillion in combined GDP, NAFTA proudly ranks the first among the world’s free trade agreements (USTR). It is usually seen as a remarkable success

The Impact of the Internet and E-commerce on Tax Regimes in the Commonweath Caribbean

5786 words - 23 pages Canada. A resident made alimony payments to a former spouse living abroad, the court held that the spouse was exempted from liability to pay tax on alimony within the term 'annuity' in the Double Taxation Relief (Canada) Order 1960. The non-existent of double taxation agreements between countries could result in individuals and companies being taxed twice, deliberately practicing tax evasion or keep income in countries that

Class Conflict in Canada

2550 words - 10 pages The issue of class conflict in contemporary capitalism is an important obstacle affecting Canada. The capitalist system currently operating in Canada only adds to the differentiation among classes causing a larger rift and increased class cleavages. The constraints of the free market prevent important social programs the country requires to survive affecting the lower class causing suffering and hardship. Capitalism leads to an increasing rift

"Brain Drain" Essay about losing skilled Canadian workers to the United States.

1115 words - 4 pages under tangible and intangible categories. Among the tangible reasons are lower taxation rates for higher income earners. The Conference Board of Canada estimates that a person earning $50,000 a year pays about 35.7% compared to 28.1% in the United States. At $250,000 a year, Canadian taxes amount to over 47% compared to 34% in the United States. These percentages easily distort the comparison because the cost of health care, social programs and

An Analysis of Canada's System of Provincial Taxation.

2452 words - 10 pages against the behemoth that is taxation, let alone the war. Whether it be naiveté, dishonesty or just plain stupidity, politicians in Canada seem to enjoy advocating the notion of lower taxes as a remedy for all their provinces' woes, however after attempting to act upon such promises, all that remains is yet another ringing endorsement for Will Rogers' theory that "The only difference between death and taxes is that death doesn't get worse

The Rebellion's of Upper and Lower Canada.

1958 words - 8 pages Canada, Jean-Paul Bernard p.30). From 1791 to 1812 many reforms were tried to limit the governor and executive's power such as a push for the government to elect its legislative council, making judge's positions permanent, and control of taxation. The government ignored these request.Sir James Henry Graig, an arrogant governor put further strife between English French relations in Lower Canada by twice dissolving the legislative assembly. He also

Double Taxation Relief

3628 words - 15 pages provisions are common to most countries and the overwhelming majority of these agreements based on the Model Tax Convention developed by the Organization of Economic Cooperation and Development (OECD) Model Treaty, the UN Model Treaty which includes some more provisions that are not mentioned in OECD.I. METHODS OF RELIEF FROM DOUBLE TAXATIONThe major problem of double taxation includes the country of residence forgoing its taxing rights either

Dividend Tax

1576 words - 6 pages of corporate income. Which is a “double taxation”( http://pages.stern.nyu.edu/~byeung/dividend%20taxation.pdf). The double taxation raises the questions of whether the tax should be eliminated, and which taxes should be cut. With both sides ..., the dividend tax … because…, The dividend tax was introduced in 1936 by President Roosevelt in the New Deal (Levey). The Economic Growth and Tax Relief Reconciliation Act of 2001 introduced lower

Similar Essays

Were The Upper And Lower Canada Rebellions In 1837 A Success?

745 words - 3 pages The Rebellions of 1837/1838 in both Upper Canada and Lower Canada were attempts and attacks at their current government for various reasons. The rebellions in Upper Canada were to bring about an American style democracy, while the rebellions in Lower Canada were largely due to discrimination against the French, unequal taxation, and lack of power within the government to bring about any reformation. In the end, the rebellions in Upper and Lower

The Colonists Did Not Have Adequate Cause For The American Revolution

500 words - 2 pages . The Americans claimed that through both, the Sugar Act (1764) and the Stamp Act (1765), the British dishonored their rights to taxation. The Townshend Acts also infuriated the Americans, and as in all other circumstances, they were willing to fight for their rights. The final justification for the Revolution came from the Coercive Acts. The Sugar and the Stamp Acts were the first events by which the Americans felt their rights violated. The

Cri Etos Crietos Essay

1850 words - 7 pages wealth. In this view, economic realities are building a compelling case for a more progressive tax system. But judging from the experience of other wealthy countries, the opposite may be true. As inequality has risen in the developed world, many governments have been dismantling - not increasing - estate taxes. Countries from Austria to Canada to Sweden have abolished estate taxes outright. There is nothing inevitable about high estate taxation

Canada's Ongoing Identity Crisis: What Are We Now?

1830 words - 8 pages Canada is really big, and this causes a unique problem. Canada has an identity crisis. The Spicer Commission (Spicer, 1991) showed us that by giving us the Canada Clause, essentially stating Canada is one nation and a dual nations, three nations and multicultural, centralized and decentralized. All of these identities are equally supported at different times in history. For example, directly following The Great Depression, public support for