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Do you know the current tax rates in Ontario?
Do you know the current tax rates in Ontario?
Personal Tax Rates in Ontario
Personal Tax Rates in Ontario
"The average Canadian family now spends more of its income on taxes (44.2%) than it does on basic necessities such as food, shelter, and clothing combined (36.3%). By comparison, 33.5% of the average family’s income went to pay taxes in 1961 while 56.5% went to basic necessities."
"The average Canadian family now spends more of its income on taxes (44.2%) than it does on basic necessities such as food, shelter, and clothing combined (36.3%). By comparison, 33.5% of the average family’s income went to pay taxes in 1961 while 56.5% went to basic necessities."
Source: The Canadian Consumer Tax Index 2019 | Fraser Institute
What Can You Do?
What Can You Do?
You have different ways to reduce the impact of taxation. Your tax advisor can help you. Insurance can be part of your strategies — especially if you're an incorporated professional or small business owner.
Resources
Resources
2019 corporate tax rates (BDO)
The revenue effects of tax rate increases on high-income earners (Fraser Institute, Jun 2019)
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