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Gold/Mining/Energy : Oil Sands and Related Stocks
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To: Proud Deplorable who wrote (13322)11/1/2006 9:12:25 AM
From: Cogito Ergo Sum  Read Replies (1) of 25575
 
WOW !!! agree :O)

BTW... how DOES this add up... we lose a billion in taxes due to trusts... to counteract the negative effects of changing the Trust tax ruling..

FLaherty will:
To provide income tax relief to low- and middle-income seniors, the government will increase the age credit amount by $1,000 — to $5,066 from $4,066 — retroactive to Jan. 1, 2006. The tax savings for seniors are expected to total $2.2 billion over six years.

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Beginning in 2007, the government will allow pensioners to allocate some of their pension income to their resident spouses for tax purposes. This so-called "income splitting" is designed to increase the incentive to save and invest for retirement. It will cost Ottawa nearly $4 billion in lost tax revenue by 2011.

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The corporate income tax rate will be reduced by half a percentage point as of Jan. 1, 2011—a move that will cost Ottawa an estimated $700 million a year in lost revenues when fully implemented.

WOW ! that makes sense...

Scott, see the senior's clause ? The NDP could not possible have not supported that section.

The heavy handedness us just plain stupid. For one they could have restricted the eligible industry types, and set size limits on the trusts and (sorry my US buddies) made them exclusionary and promote the original intent of tax breaks for Canadians.

Sigh... I'm afraid I was wrong ... we have two viable National parties.. but still no good choice ... :o(

Al

Edit (Except for the interest rate part :O)
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