Topaz Posted April 27, 2011 Report Posted April 27, 2011 A friend of mine said they are are paying more income tax this year then ever before. Her spouse, was laid off in 2009 went on EI until June of 2010 and recieved a pension, which is half of what he did make and this year she said they ended up owing over 1100.00 to income tax. Just wondering if anyone else noticed a increase or decrease in their income tax. The reason the Tories are saying no increase in tax is they have already hit Canadians works and don't need to increase taxes.....yet. http://www.vancouversun.com/business/Canadians+with+increases+payroll+income+taxes/4033855/story.html Quote
Moonbox Posted April 27, 2011 Report Posted April 27, 2011 (edited) deleted Edited April 27, 2011 by Moonbox Quote "A man is no more entitled to an opinion for which he cannot account than he is for a pint of beer for which he cannot pay" - Anonymous
noahbody Posted April 27, 2011 Report Posted April 27, 2011 Your friend likely owes more money at tax time, because less tax is being deducted during the year. Quote
msj Posted April 27, 2011 Report Posted April 27, 2011 We would have to look at the income tax return in detail to find out if more income taxes are "payable" than the previous year and, if so, why more are payable. Given that tax rates have not gone up I highly doubt that the "increase" in tax on your friends tax return is due to higher taxes. Quote If a believer demands that I, as a non-believer, observe his taboos in the public domain, he is not asking for my respect but for my submission. And that is incompatible with a secular democracy. Flemming Rose (Dutch journalist) My biggest takeaway from economics is that the past wasn't as good as you remember, the present isn't as bad as you think, and the future will be better than you anticipate. Morgan Housel http://www.fool.com/investing/general/2016/01/14/things-im-pretty-sure-about.aspx
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