Federal election – comparing the parties’ tax plans
With the election fast approaching, what should investors know before casting their vote on September 20? Jamie Golombek, CIBC’s Managing Director, Tax and Estate Planning shares his insights on key tax proposals from Canada’s major parties.
Three parties, three approaches
Starting with the Liberals, Jamie talks about many proposals, including a new tax-free First Home Savings Account, increasing the temporary, flat-rate home office deduction and a new minimum tax for high income individuals.
Moving to the Conservatives, “They're promising one month of GST-free purchases at retail stores,” says Jamie. He also discusses their proposed credit for investments in small businesses and other measures.
Finally, the NDP platform has some major proposals, including increasing the capital gains inclusion and top marginal tax rates, as well as introducing a new tax on individuals with over 10 million dollars in wealth.
How the major parties' proposed tax changes will affect your wallet
– Jamie Golombek, CIBC Private Wealth Management, in the Financial Post
The week ahead – Horseshoes and Canadian elections
– Avery Shenfeld, CIBC Economics