Canadians Overpaid the Taxman by $9,700,000,000
It seems that Canadian taxpayers sent the federal government almost $10 billion more than it needed in 2006/07. That means there's room the next GST cut or a nice healthy broad-based cut to income tax.
posted by Matt at 8:56 AM
8 Comments:
This comment has been removed by the author.
May 26, 2007 6:59 PM
Worst thing is, that's still not even the final figure. I'm betting when it's announced in September it'll be even bigger.
May 26, 2007 6:59 PM
I don't doubt that a portion of this money is from over taxation but I'm willing to be that high oil prices account for a significant protion of it.
May 27, 2007 1:51 PM
I don't doubt that a portion of this money is from over taxation but I'm willing to be that high oil prices account for a significant protion of it.
Either way they could have cut taxes.
May 28, 2007 9:26 AM
It doesn't matter if the money comes from high oil prices or not, there is $10B that the government has not already promised to anyone. They should give it back to us.
May 29, 2007 4:07 PM
zip - the figures I've seen say that for every ten cent increase in gas prices the government realizes an extra $140 million in revenue (due to the GST).
If we assume gas prices rose 20-30% year on year then between $280-$320 million of the surplus was due to high oil prices (not a significant portion).
May 29, 2007 4:14 PM
OR they could take that $10 billion and put it all towards debt reduction or infrastructure improvements across Canada.
June 06, 2007 11:33 AM
Who knows where to download XRumer 5.0 Palladium?
Help, please. All recommend this program to effectively advertise on the Internet, this is the best program!
November 13, 2009 10:12 PM
Post a Comment
<< Home