Costly rich tax - MoneySense

Costly rich tax

Ontario’s new surtax on high-income earners will likely cost more than it will bring in, according to a new report.

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  • Months after sneaking in the Ontario Liberal budget, the C.D. Howe Institute is speaking out against the provincial NDP’s “rich tax.” Starting next month, anyone making more than $500,000 will see their tax rate jump 3.1 percentage points. The new tax on high-income earners will likely cost more than it will bring in (by as much as $50 million), the think-tank said. Read the full report here.
  • Check out Maclean’s Top 50 Socially Responsible Companies package. Companies were  selected on the basis of their performance across a broad range of environmental, social, and governance indicators and rank at the top of their industry groups.

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