Nipissing MPP Monique Smith issued a media release Tuesday touting the benefits the Ontario Tax Plan for More Jobs and Growth Act, which includes the harmonized sales tax legislation.

If passed, the act will increase business investment, create new jobs and raise incomes for Ontarians, the release said.

The release said along with the proposed harmonized sales tax, 93% of taxpayers will pay less personal income tax, while 90,000 low-income Ontarians will no longer pay provincial personal income tax.

The province is also proposing to almost double the property tax and sales tax credits.

Proposed tax cuts for business would enhance the benefits of the proposed HST by attracting more investment into Ontario, said the release.

The personal income and corporate tax reforms include a 16.5% tax cut on the first $37,106 of taxable income — which would make Ontario’s the lowest personal income tax rate of any province in Canada; an average personal income tax cut of 10% for Ontario families and individuals earning up to $80,000.

The act also includes an 18% tax cut for small businesses and a 17% tax cut for manufacturers.

http://www.nugget.ca/ArticleDisplay.aspx?e=2181618

Surrey Coquitlam vancouver Victoria Auto Financing Interest Rates
Furnace Prices Winnipeg
Wpg Auto Dealer
www.crossfireconsulting.net

• Year End Income Tax Guide (Part 2) This is the second part of Mr. ToughMoney Love's year end income tax guide that I have put together to help me (and I hope you) do some last minute strategizing and planning for the 2008 and...
• Hallelujah! Debt Ceiling Raised! (Final-Frakking-Ly) Have you ever had something you were writing get overtaken by events?  You know, you're writing about how tensions with the Soviet Union are only going to get worse, when you turn on the TV...
• My Life as a Volunteer Tax Preparer - Ch. 2.7 I returned to the volunteer Tax-Aide office this week. Last week I was in Las Vegas. Talk about contrasting money environments! I had three interesting taxpayer experiences today. The first involved a widowed woman in...
• Sales Tax - What It will Mean To You This summer (2010) the Ontario Government is set to put into force its new harmonized GST/PST  Sales Tax - What It will Mean To You which will apply a 13% sales tax to everything we purchase....
• How To Hedge Your Bets: 10 Ways To Diversify Your Income Jonathan Leane is today's guest blogger here at Rich Credit Debt Loan. Jonathan writes for Debt Loans. Why Diversify Your Income? Most people are familiar with the idea of diversification—it is common knowledge to not...