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 1) Part of the hard truth we all have to accept includes death and taxes.  Even Mr. ToughMoneyLove can take only such much hard truth so I choose not to write about death.  That leaves taxes....
• The 5 Top Tax Deductions and Credits The following is a post from staff writer Crystal at Budgeting in the Fun Stuff, where she writes about finding the balance between paying your bills, saving for your future, and budgeting in the fun stuff...
• Personal Retirement Plan Investment Options Good financial management consists of two different distinct facets, the first of which is learning how to make the best use out of your limited earned income in order to best meet your current expenses,...
• Business Structure - Sole Proprietorship Laying the ground work for a new business can seem overwhelming if you are just starting out. Cathy from Absolutely Kneaded asked recently if there was any reason for a small business not to be...
• 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...