Voyageur 10
News for residents of the “11th province”: Canadians abroad.
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Canadians Face Higher Tax Burdens Than Americans
A Fraser Institute study shows that Canadians are suffering a significantly higher tax rate than Americans across income levels, meaning that Canadian provinces are the top taxers in North America. These tariffs, particularly on higher incomes, are not only uncompetitive internationally but also keep highly skilled professionals from coming to live in Canada. This trend is damaging Canada’s economic future by driving talent to more tax-friendly jurisdictions, ultimately benefiting those economies at Canada's expense.
Read more: True North
Freeland Hints at Potential New Taxes
While confirming that the upcoming federal budget will not increase taxes on the middle class, Finance Minister Chrystia Freeland has left open the possibility of new taxes targeting wealthy individuals and companies. This comes against a backdrop of discussions on funding investments in housing, artificial intelligence, and other sectors currently considered important to growth. The claimed objective is to maintain fiscal responsibility while reversing previous corporate tax cuts and exploring taxes on “excess” profits to address public finance needs without burdening the middle class.
Read more: National Observer