Last night I listened to a teleconference interview with Scott Hennig, the director for the Canadian Taxpayers Federation. The Canadian Taxpayers Federation is a non-profit organization looking to stick up for Canadian taxpayers against government waste. Although they are non-profit, they are not a charity and do not have affiliations with any political party. Scott went on to speak about how our government representatives think they know what to do with Canadian money better than the actual taxpayers themselves!
In the last election Liberal MP’s were quoted saying, “tax cuts only allow people to buy more beer and popcorn.” The average family in 2008 made 90,000$ in Canada in which 44% of that around 42,000$ dollars goes to taxes at all levels. Canada is the highest income taxed country of the G7 nations, even higher than Italy and France. In 1917, the Canadian Tax Code had 17 pages; currently it is 2226 Pages.

Currently in Canada we are having a federal election; the three main parties are the NDP, Conservatives, and Liberals who all have different tax platforms.

Federal Conservatives
- Want to create a first time homebuyers tax credit. This credit would be a 15% cut on the closing costs of a home up to 5000$ dollars. For example, if closing costs on your home were 2000$ dollars 15% of that would be tax deductible 300$ dollars.
- Make a diesel tax of 2 cents a liter
-Extend maternity leave opportunities to self-employed people
-Allow income splitting for people with disabilities.

Liberals
-Create a Carbon Tax of 10$-40$ per ton, which would also bring up the price of electricity, gasoline, and any transportation companies.
-Allow income splitting for artists.
-Scientific tax credits
-Reverse the Income Trust tax brought in by the Conservative party.
- Create a 350$ child tax credit.

NDP
-Create a tax break on apprentices going into training.
-Increase tax on corporations and businesses in general
-Create an inheritance tax

In order to keep Canada competitive in the global economy, we need to lower business tax to get businesses here that create more jobs. As far as the Carbon Tax goes, in Europe wherever it has been introduced has killed the entire manufacturing industry, raising unemployment.

On the teleconference call Hening went on to explain that the Canadian Taxpayer Federation is against small tax cuts and wants a flat income tax cut for all Canadians.
The Canadian Taxpayer Federation has more than 60,000 supporters and has been around since 1990.
You can help their cause at Taxpayer.com

Kelly Parks
www.wealthforinvestors.com