Liberals Guaranteed Income Speculation Tax
Basic Income Supplement: Testing a Dignified Approach to Income Security for Working-age Canadians
WHEREAS one in eleven Canadians lives in poverty (as measured by LICO), despite the array of income security and social assistance programs provided by federal and provincial governments;
WHEREAS income security programs such as the National Child Benefit and the Guaranteed Income Supplement provide an income-tested base benefit to low income children and seniors, but not working age adults;
WHEREAS there are perverse disincentives to exiting from social assistance systems, often referred to as the “welfare wall”;
WHEREAS the idea of a basic income supplement for working age adults was recently endorsed by the Canadian Medical Association as a means of improving the health of low income Canadians;
Guaranteed minimum income would cost Ottawa $76 billion a year, budget watchdog says
The parliamentary budget officer says the federal government would have to find about $43.1 billion to cover the full cost of the program
A federal spending watchdog says it could cost federal coffers more than $76 billion a year to provide a national, guaranteed minimum income similar to the one being tested in Ontario.
The parliamentary budget office says the federal government would have to find about $43.1 billion to cover the full cost of the program because Ottawa already spends about $32.9 billion a year on support to low-income Canadians.
B.C. speculation tax: Here’s what you need to know
The government expects to introduce legislation in the fall to make the tax part of law and they say 99 per cent of British Columbians will be exempt from paying the tax. The tax will be applied on properties that are not the primary residences of the owner — they’re not living there for more than six months per year — and that aren’t being occupied by a tenant when the owner isn’t there.
“The speculation tax focuses on people who are treating our housing market like a stock market,” Finance Minister Carole James said in a statement on Monday. “So people in smaller communities, those with cottages at the lake or on the islands, will not pay this tax. People with second homes outside of high-cost, designated urban areas will not pay the tax. We are going after speculators who are clearly taking advantage of the market, leaving homes vacant and driving up prices.”
Retirees, out-of-province residents calling B.C. speculation tax unfair
When Rick Smith’s son decided to move from Yukon to Victoria for college he bought him a condominium to avoid high rents, but a new provincial tax means the property may turn out to be more of a financial burden than anticipated.
“Our contribution to his future is to put a roof over his head during his studies,” Smith said Wednesday. “This bloody tax is pushing us against the wall.”
Finance Minister Carole James released details of what the government is calling a speculation tax on Monday that predominantly affects properties owned by non-B.C. residents.
James said the tax is intended to improve housing affordability in areas where the need is most acute, while exempting rural cabins and vacation homes.
Free trade between provinces? That would be anarchy
If you’re on vacation abroad somewhere this summer and find yourself explaining to people over dinner what makes Canada so unique and special, use the story about Gerard Comeau and his beer run back in 2012. There is no more Canadian story than that.
Comeau is a Canadian who, looking for the best bargain he could, drove to a Canadian town a few miles from his home in Canada, bought 14 cases of beer and three bottles of liquor from Canadian beer and liquor stores, then returned to his home. In Canada.Share on Facebook Tweet about this