End of April . Tax time in Canada. Is your share fair ?
Did you know that the bottom 40% of Canadian singles pay only 2.5% of all income taxes all singles pay ? Or that the bottom 60% didn’t pay more than 12.1%? Did you know that the top 20% or top quintile of singles pay over 2/3 of all taxes paid by singles. Astounding, huh ? The top 40% of all families pay over 80% of all income taxes paid by families.
And some parties want even more of your taxes ? Mind you, this is before you pay for gasoline taxes, property taxes, PST, GST and all sorts of other taxes or fees levvied by various levels of government.
CONCLUSION:
Congratulate yourself if you are in the top 20% as usually no one else does. Maybe your spouse or your kids, if you’re lucky. Thank you. This country needs you. Why not get a favourite (non-tax-deductible most likely) treat, say a glass of your favourite wine (in my case a Gewürztraminer from the French occupied German territory of Alsace), a walk along the beach or a meal at that fancy new restaurant that opened near you recently. Then consider your good fortunes to be able your toil and pay for most of society’s wants and needs on your able back. Perhaps invest in an RRSP or TFSA to save for later days as surely the state’s pension or OAS will not pay you much, and by then healthcare systems will be so broke that much private money will be needed to fix your ailing body.
Then, go on toiling. And vote right in the upcoming election(s).
THANK YOU FOR YOUR TOIL .. from all of us here at the Prestigious Properties Group, toiling for you to make your investment with us grow !
Thomas Beyer, President & Founder