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Dear John,
Canada could simplify its tax code and become more tax competitive with the US, who currently enjoy a substantial advantage over us on personal income taxes.
A new study published today by the Fraser Institute explores how to reform the federal personal income tax system by reducing income tax rates and eliminating 49 different federal tax credits, deductions, and special preferences.
For instance, the three middle income tax rates could be eliminated, and the top marginal income tax rate could be reduced to 29% – the same rate it was before the Trudeau government increased it. Nearly all Canadians would pay a marginal tax rate of 15%, while top earners would pay a 29% tax rate.
Learn more here, and be sure to share this study with your friends and colleagues.
Sincerely,
Niels Veldhuis
President
The Fraser Institute
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