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Articles on Personal income tax

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Progressive in theory, regressive in practice: that’s how we tax income from savings

It would be a mistake to think that just because higher earners face higher tax rates, that’s what they pay. When it comes to income from savings it’s the other way around.
The National Centre for Social and Economic Modelling has calculated the impact of the 2019 federal budget’s tax and welfare transfer changes. www.shutterstock.com

NATSEM: federal budget will widen gap between rich and poor

The Morrison government’s tax changes will benefit high income earners the most and low income earners the least, says the National Centre for Social and Economic Modelling.
Ah, yes. Once again, it’s tax season. If you decide to outsource filling out your returns to someone else, be sure to ask the right questions to get the best service. Shutterstock

Dread doing your taxes? Some tips on hiring someone to take over

You need to be confident and establish a firm, trusting relationship before entrusting someone to do your taxes. Start as soon as possible. Don’t wait for the April 30 tax deadline.
Timing tricks help politicians avoid dealing with the substance of their policies. That isn’t going to change any time soon. Cindy Zhi

Government timing tricks hide the real budget story

It seems that timing tricks are now a thing in Australian politics. Revenues are brought forward and spending pushed back for cosmetic effect.
Filling out tax forms used to be an exercise in legalese torture for Canadian taxpayers. Canada has come a long way, but can still to more to simplify filing taxes. THE CANADIAN PRESS/Chris Young

Doing taxes used to be an even bigger pain

In the 1950s, Canada made it easy for employees to file their income tax. Now let’s simplify the process for others, too.
Finance Minister Bill Morneau is not the first Canadian politician to hold the job who’s been confronted with outrage over tax reform proposals. But it’s time to listen to people who get riled up about tax increases. THE CANADIAN PRESS/Andrew Vaughan

Why we should listen to people angry about their taxes

Outrage over tax reform is nothing new. But if we can’t be calm about tax, we can at least learn from the stories spoken in anger.
Treasury Secretary Steven Mnuchin offers details of his boss’ proposed tax cut. ‘It’s big.’ Carolyn Kaster/AP Photo

Would Trump’s tax cut be the biggest ever? Fat chance

The bar for achieving that lofty goal was set almost 150 years ago when Congress cut taxes from as high as 10 percent to zero over two years.

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