Voyageur 146
Canada Buys the Quiet Kind of Sovereignty, and Top Earners Get the Tax Spotlight.
News for residents of the “11th province”: Canadians abroad.
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Canada Buys the Quiet Kind of Sovereignty
Canada has picked Germany's TKMS as the preferred supplier for its next submarine fleet, a deal PM Mark Carney says is the largest defence procurement in Canadian history. The plan is to finish contracting by the end of 2027 and get the first four boats arriving in 2034.
Its a bit awkward that this is currently important. Ottawa says only one of Canada's four current submarines is seaworthy, which less-than-chest-thumping-material for the country with the planet’s longest coastline. The new 212CD subs are being built for Arctic patrol, undersea surveillance and NATO work, and they will put Canada on the same platform club as Germany and Norway.
Read more: Prime Minister of Canada / BBC
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A photo from the old country:
Top Earners Get the Tax Spotlight
A new Fraser Institute study says the highest-earning fifth of Canadian families paid about two thirds of all personal income taxes and 58.3 percent of total taxes, while earning a hair under half of all family income. National Post picked up the report on Sunday, and so the tax-fairness argument gets to make the rounds again.
The low-earning 20%, by the same estimate, paid 0.7 percent of federal and provincial personal income taxes and 1.7 percent of total taxes while pulling in (we can’t really say “raking in,” can we?) 4.3 percent of family income. The institute argues that raising high-end rates can change how people work, invest and report income, and that’s the part Canadians abroad should be paying attention to. Tax politics at home don’t not stay politely out of the way when you still have Canadian income, property, business ties or a possible return plan.
Read more: National Post / Fraser Institute