This presentation will discuss taxation policies including taxation rates for the top 1% earners in Canada. The presentation will discuss re-distribution of income as part of taxation system for Canada

1. Wealthiest Income – Canada
- 2016
By: Paul Young, CPA, CGA

2. Disclaimer
• This presentation discusses Wealthiest Canadians

3. Paul Young - Presenter
Bio
• CPA/CGA
• 25 years of experience in Academia, Industry and Financial solutions
• Youtube Channel -
https://www.youtube.com/channel/UCAArky1bAXPSuV2NLtUnyLg

4. Agenda
• Who are the top 1%
• Tax Bracket

5. Top Income Earner/Canada
• Here’s what it takes to be among Canada’s top earners:
• Top 1 per cent: income of at least $222,000. A total of 264,030 tax-filers
earned that amount or more in 2013,
• Top 5 per cent: income of at least $115,700,
• Top 10 per cent: income of at least $89,200.

6. Top Income Earner/Canada
• Combined Provincial/Territories range 47% to 55%
• NB has highest combine Personal Income Tax in Canada
• The small group is a big source of federal revenue, contributing more than 20
per cent of all income tax collected. Canada’s rich may be getting a little
richer, but their income growth of 1.2 per cent between 2012 and 2013 was in
line with the growth of all other tax filers.
• http://www.cbc.ca/news/canada/new-brunswick/higher-taxes-on-rich-may-
miss-revenue-targets-experts-say-1.3031842 or
https://www.youtube.com/watch?v=pICUvNi95AY

7. Redistribution of Income:
Facts:
• Top 1% account for 20% of
the Federal Income Tax
• Corporate Tax account for
1/3 of the transfer
payments
• Equalization benefits come
from the have not
promises via royalties as
well as other revenue
sources

8. Other information/Comments:• NDP and Liberal Comments - http://www.torontosun.com/2015/08/15/trudeau-and-mulcair-selling-a-fantasy-to-the-middle-class or
http://www.cbc.ca/news/politics/trudeau-speech-chamber-commerce-1.3513939
• I hear the same comments that Harper has killed the middle class when it is has been bad provincial policies led by various provincial government that felt
social policy at all costs is the solution to run their various budgets. Here are facts/videos on the middle class - https://www.youtube.com/watch?v=xqLDHQ-
iJU8 (is this a lie? or https://www.youtube.com/watch?v=yOl37VcG89c (is this a lie? - http://globalnews.ca/.../tax-cuts-since-2005-net.../ (is this a lie?) or
http://www.slideshare.net/paulyoungcga/taxation-policies (are my slides 8-11 wrong).
• BTW: Hiking the corporation tax to 18-22% range will add 2-8% more to cost of your iPhone, iPad, Clothes, transit passes, food, beer, wine, etc.
http://www.slideshare.net/paulyoungcga/corporation-taxation-canada-44675640.
• How about childcare: http://www.iedm.org/fr/2821-quebecs-failed-child-care-model
• Canada is one of the most admired countries in the world: http://www.ctvnews.ca/canada/canada-ranked-as-most-admired-country-in-the-world-report-
1.2470040
• Canada also has done well compared to its peers across the world - http://www.bmonesbittburns.com/economics/forecast/int/intmodel.pdf
• http://www.theglobeandmail.com/report-on-business/top-business-stories/canadians-scale-the-income-ladder-with-the-best-of-
them/article25533315/?click=sf_globefb
• Remind me again why we should change to either Mulcair or Trudeau government as the facts do not align with their policies!
http://www.torontosun.com/2015/08/15/trudeau-and-mulcair-selling-a-fantasy-to-the-middle-class
• FYI – Canada is still one of the best countries in the world - http://news.nationalpost.com/news/canada/canada-named-the-country-with-the-best-
reputation-by-global-survey-again or https://ca.news.yahoo.com/blogs/dailybrew/canada-tops-the-world-as-most-reputable-country-021908756.html
• FYI – Taxing the richest - http://www.cbc.ca/news/canada/new-brunswick/higher-taxes-on-rich-may-miss-revenue-targets-experts-say-1.3031842 or
https://www.youtube.com/watch?v=pICUvNi95AY
• Hydro rates - http://laws-lois.justice.gc.ca/eng/const/page-4.html

9. Sources:
• Income inequality – https://www.youtube.com/watch?v=TulkPgfR-R0
• Middle Class - https://www.youtube.com/watch?v=hoZ96sCQ-sQ
• Guarantee Income -
https://www.youtube.com/watch?v=0UrgSeNDCPo