Canadians Can Expect More Federal Tax Hikes in 2024: Report

Published on December 20, 2023

Canadians can expect an increase in taxes in 2024, thanks to the country’s high inflation rate, the Canadian Taxpayers Federation (CTF) said in a newly released report. The Canada Revenue Agency announced the changes in November, saying an inflation rate of 4.7 percent will be used to set the 2024 tax brackets. Among those changes will be an increase in the mandatory Canada Pension Plan (CPP) and Employment Insurance (EI) contributions in 2024 for both workers and their employers, the CTF’s annual tax report notes. That means both workers earning at least $68,500 and their employers will be required to pay $3,867 in CPP tax in 2024, a $113 increase....

Continue reading on website
Other news

UN Says Money Spent on Basic Living Expenses Is Bad for Nature, Should Be ‘Repurposed’

December 20, 2023
The world’s people and their governments spent close to $7 trillion in 2022 on activities the United Nations says fuels the “climate, biodiversity, and land degradation crises.”The five biggest industries contributing to the “crises” were construction, electric utilities, real estate, oil and gas, and food and tobacco, according to a report released on Dec. 9 by the United Nations Environment Prog

Controversial San Francisco Police Staffing Tax Headed to Ballot in March

December 20, 2023
With crime impacting the city, San Francisco voters will decide during the March primary election whether police staffing should be increased, though late amendments to the measure—approved by the San Francisco Board of Supervisors—that include a proposed increase of taxes on citizens, has complicated the matter.Introduced as a plan to set aside $30 million to fund full-time police staffing increa