Nafeesa Karim | Email news tips to Nafeesa
6/21/2010
Low and middle income families will be better off with the HST according to new research from the Fraser Institute.
The think tank has found famiies making less than 80-thousand dollars a year will pay less tax over-all thanks to the new HST Credit and Provincial Income Tax Reductions.
Study author Niels Veldhuis says the HST won't even affect when tax freedom day is held next year. "We calculated that the tax freedom day would basically not change as a result of the HST," he says, "so we're not going to be working more for government, we're not going to be paying more taxes. that of course is not to say that tax freedom day is too early."
The study finds upper income groups will see their total tax bill go up - families which make between $80,000 and $100,000 will see an average increase of $65 a year.
|