Basher Posted October 30, 2007 Report Share Posted October 30, 2007 Just announced:- The Goods and Services Tax will be cut an additional 1 per cent as of Jan. 1, leaving the federal consumption tax at 5 per cent.- The basic personal income-tax exemption will increase to $9,600 from the current $8,929, retroactive to 2007. And it will increase again to $10,100 as of January 1, 2009. Link to comment Share on other sites More sharing options...
bouche Posted October 30, 2007 Report Share Posted October 30, 2007 I still can't see another 1 percent on GST helping me out in any way. Maybe if it was retroactive for the last 10 years or so. As far as basic personal tax exemption, I'd like to see if that makes any difference that I'll even notice when tax time comes. I'm not sure if there will be a way to punch in the old number with the new number and see if it affects what I end up owing. Link to comment Share on other sites More sharing options...
phorbesie Posted October 30, 2007 Report Share Posted October 30, 2007 i'll take it. Link to comment Share on other sites More sharing options...
Blane Posted October 30, 2007 Report Share Posted October 30, 2007 - The basic personal income-tax exemption will increase to $9,600 from the current $8,929, retroactive to 2007. And it will increase again to $10,100 as of January 1, 2009.Well, that pretty much covers all my taxable income again this year...One of the nice things about being a student. Link to comment Share on other sites More sharing options...
Basher Posted October 30, 2007 Author Report Share Posted October 30, 2007 bouche, basically $631 of your income that was previously taxed will not be taxed. I figure if you take your highest tax bracket, and apply that tax rate to $631, you will see what you will be getting back. In cases where you are taxed 30% or so, that should be an extra $200. Link to comment Share on other sites More sharing options...
Gr8FuL Posted October 30, 2007 Report Share Posted October 30, 2007 i'll take it,anything help s when ya make as little as I do... jesus i hate my Fackin JOB Link to comment Share on other sites More sharing options...
phorbesie Posted October 30, 2007 Report Share Posted October 30, 2007 (edited) also mr. bitchard, 2% off gst maybe means cents on small things but it means dollars on big things. why do you hate saving money so?! i just made that up > (mr. bitchard) and i kinda like it Edited October 30, 2007 by Guest Link to comment Share on other sites More sharing options...
can-o-phish Posted October 30, 2007 Report Share Posted October 30, 2007 I'd say the tax cuts are a desperate attempt to gain popularity by a minority government that hasn't accomplished squat since they've been in power...Unfortunately there's not a great alternative when Canadians go back to the polls...How about forming our own party (political!)...Jambands.ca Nation...or is that too close to Live Nation... Link to comment Share on other sites More sharing options...
larry_llama Posted October 31, 2007 Report Share Posted October 31, 2007 I'd say the tax cuts are a desperate attempt to gain popularity by a minority government that hasn't accomplished squat since they've been in power...Agreed. I'll celebrate when they RAISE the taxes for the fatcats. not the band. Link to comment Share on other sites More sharing options...
bouche Posted November 1, 2007 Report Share Posted November 1, 2007 also mr. bitchard, 2% off gst maybe means cents on small things but it means dollars on big things. why do you hate saving money so?!i just made that up > (mr. bitchard) and i kinda like it A few pennies here and there doesn't make the column in my deductions look any better. that's really all my point is. Link to comment Share on other sites More sharing options...
phishtaper Posted November 1, 2007 Report Share Posted November 1, 2007 sweeeeeeeeeeeeeeeeeet!! helloooooo, Mr Yacht Dealer!! Link to comment Share on other sites More sharing options...
Freak By Night Posted November 1, 2007 Report Share Posted November 1, 2007 Any tax cut that puts approx. $200 in my pocket a year is a good thing. However, while the feds are awash in a suprlus, our cities are crying poor. So I expect the $200 tax savings will just go towards increased property taxes. Most of you were probably not in the workforce when Mulroney was the PM. He pushed through some of the largest tax increases in Canadian history. The conservatives are just reducing the taxes that they increased 20 years ago. Link to comment Share on other sites More sharing options...
ollie Posted November 1, 2007 Report Share Posted November 1, 2007 Any tax cut that puts approx. $200 in my pocket a year is a good thing. However, while the feds are awash in a suprlus, our cities are crying poor. So I expect the $200 tax savings will just go towards increased property taxes.And don't forget that with tax cuts usually come service cuts. Link to comment Share on other sites More sharing options...
Hux Posted November 1, 2007 Report Share Posted November 1, 2007 Most of you were probably not in the workforce when Mulroney was the PM. He pushed through some of the largest tax increases in Canadian history. The conservatives are just reducing the taxes that they increased 20 years ago.Additionally, these current Not-So-Progressive-Conservatives actually RAISED the tax rate for the lowest tax bracket to 15.5% from 15% in their first Budget and have just now bumped it back down.A lot of idiots like to harp about Trudeau starting the deficit and running up the debt, but Michael Wilson (Mulroney's Finance Minister - and now Harper's Ambassador in Washington) accumulated more public debt from 1984-1991 then every post-war Finance Minister COMBINED. Link to comment Share on other sites More sharing options...
phorbesie Posted November 1, 2007 Report Share Posted November 1, 2007 well since y'all are so above it, feel free to send me your tax refund money Link to comment Share on other sites More sharing options...
Northern Wish Posted November 1, 2007 Report Share Posted November 1, 2007 well since y'all are so above it, feel free to send me your tax refund money Yeah no shit. We could all NOT get tax reductions, and still see govt services erode and property taxes increase. I can just imagine what Hux would have said if they hadn't done anything positive for us If you don't like it vote Liberal in the next election, Dion stated last night (to the surprise of many of his own party members) that if the Libs get back in he'll scrap the GST reduction. S Link to comment Share on other sites More sharing options...
timouse Posted November 1, 2007 Report Share Posted November 1, 2007 i'm not above it, but i'm a bit pissed about the way that these thigs get made out to be such a fabulous thing. the gst cut amounts to like $12 a month for most folks...then as was siad above, the ugly twin, service cuts appears, and there's less available for folks that need it.i would happily have them keep my $12 a month and do something good with it. Link to comment Share on other sites More sharing options...
Hux Posted November 1, 2007 Report Share Posted November 1, 2007 *cough* income trusts *cough* Link to comment Share on other sites More sharing options...
phorbesie Posted November 1, 2007 Report Share Posted November 1, 2007 i'm not above it, but i'm a bit pissed about the way that these thigs get made out to be such a fabulous thing. the gst cut amounts to like $12 a month for most folks...then as was siad above, the ugly twin, service cuts appears, and there's less available for folks that need it.i would happily have them keep my $12 a month and do something good with it.well that's easy, all you have to do then is donate your tax refund to the PC party. i assume you'll be doing so, yes?classic - canadians WANTING more taxes. pffft. it's as if you people think the government is spending our tax money to the best of their ability. Link to comment Share on other sites More sharing options...
Hux Posted November 1, 2007 Report Share Posted November 1, 2007 I don't think anyone is saying they are "above this" or want higher taxes, are you at all capable of looking at this with a little bit more depth? If we're all idiots, at least listen to what the economists are saying. Link to comment Share on other sites More sharing options...
timouse Posted November 1, 2007 Report Share Posted November 1, 2007 i'm not above it' date=' but i'm a bit pissed about the way that these thigs get made out to be such a fabulous thing. the gst cut amounts to like $12 a month for most folks...then as was siad above, the ugly twin, service cuts appears, and there's less available for folks that need it.i would happily have them keep my $12 a month and do something good with it.[/quote']well that's easy, all you have to do then is donate your tax refund to the PC party. i assume you'll be doing so, yes?classic - canadians WANTING more taxes. pffft. it's as if you people think the government is spending our tax money to the best of their ability.i don't want more taxes by any stretch, and i don't think that donating my $12 a month to the CONservatives would help anything other than the conservatives. i'm really tired of hearing them trumpet tax cuts, then in the next breath announce beneficial program cuts. it insults the intelligence of the electorate imo. Link to comment Share on other sites More sharing options...
phorbesie Posted November 1, 2007 Report Share Posted November 1, 2007 LOL i don't think i'm lacking depth. i just don't see the need to complain about every little thing in the world. it just drive me nuts. waaaah mommy i'm getting an extra 200 in tax cut BOO HOO Link to comment Share on other sites More sharing options...
Hux Posted November 1, 2007 Report Share Posted November 1, 2007 I agree you don't lack depth, you don't have depth in this case. Link to comment Share on other sites More sharing options...
phorbesie Posted November 1, 2007 Report Share Posted November 1, 2007 that's rich coming from your mouth where's my "puke" emoticon?! Link to comment Share on other sites More sharing options...
Hux Posted November 1, 2007 Report Share Posted November 1, 2007 I knew I shouldn't have broken the promise I made to myself not to talk politics with the wooks...back to the Ratdog folder! Have you seen his Elvis costume - hilarious! Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now