Close Menu
BestNewsOnline
    Facebook X (Twitter) Instagram
    BestNewsOnline
    • Retirement planning
    • Insurance
    • Real estate
    • Subscription
    BestNewsOnline
    Home»Personal Finance»British Columbia has the fourth highest personal income tax rate in Canada and the United States
    Personal Finance

    British Columbia has the fourth highest personal income tax rate in Canada and the United States

    November 1, 20222 Mins Read
    WhatsApp Facebook Telegram
    Fraser Institute

    Fraser Institute

    VANCOUVER, British Columbia, Nov. 01, 2022 (GLOBE NEWSWIRE) — British Columbia has the fourth highest personal income tax (PIT) rate in Canada or the United States, including rates applicable provincial and federal governments, according to a new study released by the Fraser Institute, an independent, nonpartisan think tank on Canadian public policy.

    “British Columbia’s relatively high tax rate, compared to other Canadian and U.S. jurisdictions, poses a significant policy issue for the province, as competitive tax rates help attract skilled workers and investment. , which fuels economic growth,” said Ben Eisen, senior fellow at the Fraser Institute. and co-author of British Columbia’s Growing Tax Competitiveness Problem.

    The study finds that BC has the highest combined PIT rate (which combines provincial and federal income taxes) of 53.5% for high earners, including doctors, contractors and other qualified professionals. This is the fourth highest rate in Canada and the United States

    Moreover, British Columbia’s highest combined PIT rate is only 1.3 percentage points lower than the highest rate in Canada and the United States, which is 54.8% at Newfoundland and Labrador.

    “If the BC government wants to help the provincial economy grow, it should make the province more attractive to entrepreneurship, investment and skilled workers by reducing the tax burden on high earners,” Eisen said. .

    MEDIA CONTACT:

    Ben Eisen, Principal Investigator
    Fraser Institute

    To arrange media interviews or for more information, please contact:
    Bryn Weese, Fraser Institute
    (604) 688-0221 ext. 589
    [email protected]

    Follow the Fraser Institute on Twitter | Become a fan on Facebook

    The Fraser Institute is an independent Canadian public policy research and education organization with offices in Vancouver, Calgary, Toronto and Montreal and links to a global network of think tanks in 87 countries. Its mission is to improve the quality of life of Canadians, their families and future generations by studying, measuring and widely communicating the effects of government policies, entrepreneurship and choices on their well-being. To protect the independence of the Institute, it does not accept government grants or research contracts. Visit www.institutfraser.org

    Add A Comment
    Leave A Reply Cancel Reply

    What's hot

    2023 pension contribution limits jump by record amount – Yahoo Money

    October 21, 2022

    More home inventory, but still a seller’s market, broker says

    November 11, 2022

    Florida faces more reinsurance issues

    November 24, 2022

    California Workers’ Compensation Board Says Premium Dropped Sharply Starting Q2 2020

    December 20, 2022
    Don't miss

    EY Future Workplace Index reveals surprisingly favorable attitudes towards commercial real estate investment despite economic tightening

    November 16, 2022

    Pardon our interruption

    February 1, 2023

    Aspen Real Estate Snapshot, October 31 | New

    October 31, 2022
    Picked for you

    LACERA invites tenders for the system’s emerging real asset management program

    Retirement planning February 2, 2023

    The Los Angeles County Employees Retirement Association invites proposals from qualified companies to implement the…

    BestNewsOnline.net is owned and managed by

    Top10 International FZ LLE
    Office 2002, 20th Floor, Creative Tower
    Fujairah, United Arab Emirates
    TRN: 100608946800003

    • Home
    • Contact us
    • Privacy policy
    • Terms and services

    Type above and press Enter to search. Press Esc to cancel.