Sunday, May 03, 2015

A Reader Writes ...........................

Unfair tax treatment

MoneySense magazine Jan 2015 page 22 states:

"Based on BC tax rates, a single senior with $50,000 in taxable income can expect to pay more tax than a senior couple with $70,000 in income that is equally split."

Remember, this is before the current efforts to add to the income splitting windfall for higher income folks the federal (Conservative) government is trying to implement.

It would be interesting to ask the Tory candidate, Mark MacDonald, if he agrees with such tax unfairness, prior to the upcoming election?

Cheers
Gary Korpan

allvoices

3 comments:

  1. $50,000 supporting one person versus $70,000 for two people ? Doesn't seem to be a problem for me Gary.

    ReplyDelete
  2. I believe he's saying that a single senior with a total taxable income of $50,000 will pay more tax than two seniors with an income of $70,000. I don't think it's about living off of those two incomes.

    ReplyDelete
  3. At the end of the day the after tax money for living expenses is very important. Two can not live cheaper than one , so the splitting income feature helps address this. The two "seniors" to which you refer are not getting rich thru this system ,just better addressing day to day living expenses.

    ReplyDelete

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