say goodbye to 15% income tax cut Jan 1

[alex.w *//]

B.C. suspends 15% income tax cut

The British Columbia government says it will suspend a planned 15-per-cent reduction in personal income tax rates for the first $72,000 of personal income.

Premier Gordon Campbell said in a release Wednesday that cabinet made the decision to provide the government with more economic options.

"In order to ensure the executive council has maximum flexibility to set government's economic and fiscal agenda, cabinet has decided to suspend the planned tax reduction," Campbell said.

The 15-per-cent cut, announced in an Oct. 27 address by Campbell, was quickly criticized as a desperate measure by the embattled premier to gain public favour following the unpopular reception of the harmonized sales tax.

The tax reduction was scheduled to take effect Jan. 1.

Campbell also said Wednesday that a provincial budget would be delivered Feb. 15.

The budget would be tabled "in accordance with statutory requirements," and would contain no new initiatives beyond what was statutorily required, Campbell's statement said.

The premier announced Nov. 3 he would resign because public debate had become too focused on him and not on which policies were best for the province. The party is set to choose a new leader Feb. 26.

The cut would have amounted to a maximum saving of $616 in taxes for someone earning $72,293 or more. Someone earning $50,000 a year would have saved $354.

The tax cut was expected to cost $568 million in the first year, rising to $638 million per year by 2013-14, Campbell said.

Opposition New Democrat Leader Carole James said following Campbell's October address that the tax cut appeared to be a "desperate attempt to buy back public support."

"He failed miserably," said James. "He talked down to taxpayers … The public's not going to buy it."

James's prediction was borne out by opinion polls following the televised tax cut announcement, which showed that Campbell's single-digit popularity had barely budged as a result.

The suspension of the tax cut came on a day when Campbell fired B.C. Energy Minister Bill Bennett for openly calling for Campbell's immediate resignation.

After the firing, Bennett called Campbell "intimidating" and "abusive," and said that issues like the advisability of the tax cut could never be discussed around the cabinet table as long as Campbell remained premier.



Read more: http://www.cbc.ca/canada/british-col...#ixzz15cD64Mn1

[MindBomber]

Why can't the Fiberals be honest for once and say, "cabinet has decided to cancel the planned tax reduction".

[subordinate]

[Gt-R R34]

more or less expected, with them seeing defeat in the HST legislation.

Gordo, if only you knew how to lay it on to ppl like Ont. you're still be premier.

A hated one just the same, but not 9% approval rating fame.

[goo3]

should keep that one and cancel the referendum

[Gridlock]

Is there any chance we aren't going to have to endure 10 years of NDP gov't?

Can they possibly take their party out of the crapper enough to actually fight?

Or is it time to give all our money to the poor again?

[taylor192]

Originally Posted by Gt-R R34

Gordo, if only you knew how to lay it on to ppl like Ont. you're still be premier.

Dalton McGuinty is going down in flames next election. He would have lost the last if John Tory hadn't brought up the religious school BS.

Please don't compare BC to ON, McGuinty has ruined that province and jacked taxes through the roof. Within 6 months of taking power I was slapped with a $750 health care "fee" so they could avoid the "tax" moniker.

[Szeto]

that definitely sucks

[TheNewGirl]

I don't know why this is shocking. It was clearly a desperate attempt for Gordo to regain his credibility and it failed. The government can't afford to cut your income taxes. In fact if the HST is shot down they will likely have to increase income taxes as an off set.

[dachinesedude]

the government gets the most revenue from income tax, so the cut was too good to be true in the first place

[q0192837465]

Libs or NDP, either way we'r screwed.

[originalhypa]

Originally Posted by Gridlock

Is there any chance we aren't going to have to endure 10 years of NDP gov't?

I'm with you on this one.
I put up with a lot of Liberal crap, because (imho) they're doing what needs to be done to this province. Infrastructure to keep up with growth. Better ideas for the medical industry, and most of all the income tax cut. I can choose not to consume, therefore not pay HST. But taking from my paycheck is a different story. Now even if I want to consume, I have less money to do so with.

Originally Posted by taylor192

Please don't compare BC to ON, McGuinty has ruined that province and jacked taxes through the roof. Within 6 months of taking power I was slapped with a $750 health care "fee" so they could avoid the "tax" moniker.

I agree with you 100% here.
McGuinty came in with the attitude of change, but their ideologies are screwed. From his insane driving laws, to his massive tax increases, to buying out his political buddies debt, ie; GM, he screwed Canada's most powerful province and put them damn in a bad situation.

Originally Posted by q0192837465

Libs or NDP, either way we'r screwed.

Unfortunately, I think you're right.
Damned if we do, damned if we don't.

[Spidey]

that's what you fucking whiners get for bitching about the HST that doesn't even affect you! Anyone here that bitched about the HSt really even affected by it? Do you eat at restaurants that much to lose that much money? The majority of everything else you buy had gst pst anyways

[q0192837465]

But seriously, do you think the vote they will get enough vote for abolishing the HST? It is convenient to sign a petition, even if u have no idea wut u'r signing. But to actually take responsibility is a different issue. TBH, I don't see HST being voted down. We really got shafted both ways this time, less money + more tax.

[TheNewGirl]

If it weren't for the HST tanking Gordo's popularity rating he wouldn't have ever promised the cuts in the first place. So you haven't lost anything income tax savings cause of the HST 'whiners'. It never would have been on the table if they hadn't whined and in the end it all nulls out.

[terkan]

Originally Posted by TheNewGirl

If it weren't for the HST tanking Gordo's popularity rating he wouldn't have ever promised the cuts in the first place. So you haven't lost anything income tax savings cause of the HST 'whiners'. It never would have been on the table if they hadn't whined and in the end it all nulls out.

So you prefer that the bc government increases your income taxes to make up for the Olympic budget AND the administration costs of having two separate taxes?
Posted via RS Mobile

[TheNewGirl]

No. I would have ideally liked it if the government NOT lied about the costs associated with the Olympics and planned in advance how to pay for them. I would have liked it if furthermore they'd been upfront about the impact of the HST and tried to sell it on its merits, not lies. And I would have liked it if my government had not tried to buy us off with a bullshit income tax deduction that anyone with a brain knew they couldn't afford.

At the end of the day I would like it if they maintained the HST but lowered it to 11% then it would genuinely be a neutral tax shift as the government had claimed it would be while still accomplishing the task of creating a tax credit for the whole amount which frees up cash flow which is vital for small businesses. Additionally it would be a huge draw for big businesses. Most people don't know that large companies are capped on their HST input credits so while the liberals claim that the HST was intended to draw them, it actually only has a limited advantage here. Having lower point of sales taxes on what they can't claim would help off set that.

And you know what, if, in Gordon Campbell's address he had promised that instead of trying to buy us all off with the aforementioned income tax break, I and a lot of people I imagine probably would have 'Okay'. And it all would have gone away.

But it didn't.

Regardless of what happens with the HST, unfortunately either your Income Taxes or your MSP premiums are going to have to go up (again) because despite claims of being economically responsible, the Government has not provided sufficent oversight for healthcare spending and the health authorities are, yet again, in the red.

/rant

[adambomb]

Sorry TheNewGirl...

Are you pro-HST now?

I remember you complaining that the HST was the worse move the Liberals ever made. I even remember you saying you signed the anti-HST petition. The same petition that is costing this province millions. I think you signed the first week it came out.

Not trying to be an ass... But it seems you are flipping more than a fish out of water.

[quasi]

Originally Posted by q0192837465

But seriously, do you think the vote they will get enough vote for abolishing the HST? It is convenient to sign a petition, even if u have no idea wut u'r signing. But to actually take responsibility is a different issue. TBH, I don't see HST being voted down. We really got shafted both ways this time, less money + more tax.

I highly doubt it, people are complacent by nature. I think like you said they were knocking on doors or in public places to get enough signatures to force the referendum and now people will have to go out of their way to vote. What turnout does a normal election get, 50-60%?

The one thing I don't understand is it says if more then 50% vote it out they'll remove it. Is that 50% of people that actually vote or 50% of the BC population?

[Gridlock]

How is the next year going to go?

Well:

1. I think we will have a double-dip recession. Again, Canada won't be hit as hard, but we'll have a bunch of people hold back on spending again to make up for it.
2. That will fuck our situation even more.

Then:

3. We have a vote on the HST, unless that gets suspended too. The No side will win. There is so much bad blood in how this thing was introduced and handled that it will be a knee jerk reaction on behalf of the population-and I think I'm one of them, even if the old system cost me more on the biz side..I hate being lied to.
4. We either drop it to 10% (which they should have done on intorduction) and some of the bad blood goes away, or scrap it and pay through the nose

Leading to:

5. Higher taxes!

So...better to "raise" the taxes now, or at least not lower them while they are already in the dumps.

And inevitably:

6. The NDP will win the election and the cycle will start again. They'll be a refreshing change and be doing these great things, and suddenly they will lose favour when they start(continue?) tabling deficit budgets from their social programs.

PS...just change the party names and whatever spending issue, and it works federally too.

[SlySi]

Originally Posted by adambomb

Sorry TheNewGirl...

Are you pro-HST now?

I remember you complaining that the HST was the worse move the Liberals ever made. I even remember you saying you signed the anti-HST petition. The same petition that is costing this province millions. I think you signed the first week it came out.

Not trying to be an ass... But it seems you are flipping more than a fish out of water.

Does not matter who flip flops. As long as we all comprehend. HST is for the better.

As for the tax cut. It's not over yet. There's still a possiblity of tax cuts. For all we know, this could just be another political tactic. Take it away from us now. New premier introduces another tax cut. Liberals look like semi heroes again.

[Mr.HappySilp]

^^ LOL tax cuts. Not in BC. You are lucky if they don't raise taxes here.

I think after feb or March there will be job loses and this leads to more EI. So ppl will spend less, which leads to more business firing ppl, less ppl sepnds, gov is getting less income, HST..... so therefore the gov either needs to raise tax or cut programs.

Overall I think it is best to spend less now and save as much as you can before it gets worse.

[vanny_david]

Originally Posted by TheNewGirl

I don't know why this is shocking. It was clearly a desperate attempt for Gordo to regain his credibility and it failed. The government can't afford to cut your income taxes. In fact if the HST is shot down they will likely have to increase income taxes as an off set.

this is true !
money is conserve...
if they reduce tax from your income, they prolly take it back from your other income source...

[TheNewGirl]

Originally Posted by adambomb

Sorry TheNewGirl...

Are you pro-HST now?

I remember you complaining that the HST was the worse move the Liberals ever made. I even remember you saying you signed the anti-HST petition. The same petition that is costing this province millions. I think you signed the first week it came out.

Not trying to be an ass... But it seems you are flipping more than a fish out of water.

No. I'm not. I think it's a crock of shit that shifts the tax burden to the people who can least afford to pay it and fails to do what they claim it's intended to do. But now that more and more information about how far into the hole the government has driven our province with out telling us is coming to light, it's also clear we can't afford to pay back the 1.9 billion dollars the federal government has given us either.

So I think the ideal compromise, really the only viable solution is to keep it but lower the provincial portion by 1 point which will actually allow it to do what it's supposed to but avoid us, the tax payers, having to pay back that 1.9 Billion the province has already spent.

Not that the government really seems to be interested in viable solutions.

[Tapioca]

Originally Posted by TheNewGirl

No. I'm not. I think it's a crock of shit that shifts the tax burden to the people who can least afford to pay it and fails to do what they claim it's intended to do.

If you are actually a low income person, you should be spending most of your income on the bare essentials like shelter and food which have not been taxed more as a result of HST. If you need the odd article of clothing once in a while, you're still being charged 12%, the same as you were before.

I realize that you've discussed your situation with your children on here before, etc. and I understand why it's costing you more. Parents, like everyone else, still have the choice to consume what services they need for their kids. Not every kid needs after-school services and not every kid needs to take piano lessons, etc.

I'll shed a little light on my childhood and tell people here why I don't think families are as hard done by as they think they are. I walked to and from school everyday since the age of 6. I didn't need after-school care, nor did I need to be enrolled in activities to have a "childhood." The only thing that I was enrolled in growing up was swimming lessons and had they been taxed an additional 7% in those days, I'm sure my parents wouldn't have broken the bank. I played street hockey to pass the time and guess what? My skates, my sticks, goalie pads, etc. were taxed 14% at the time. In terms of PST-free clothing, I got maybe one or two pairs of shoes per year, a pair of jeans, and maybe a couple of shirts a year. That's it. Then again, my family ate out very sparingly and we went on vacations maybe once every 3-4 years.

/rant