Canada...tic tic tic.....
- Thread starter Kstills
- Start date
PetesSweets86
Dedicated LVC Member
that's because all our Americans are fleeing to canada for the healthcare and sh1t or trying to become citizens and now ranking up their debt 
Canada scores well in tax report
Canada ranks behind Mexico, and far ahead of the U.S. in KPMG report
Madhavi Acharya-Tom Yew Business Reporter
http://www.thestar.com/business/article/808475--canada-scores-well-in-tax-report?bn=1
Canada ranks second to Mexico and far ahead of the U.S. on a list of tax-friendly countries for business, according to a new report.
In general, businesses in Mexico pay 40.1 per cent less tax than those in the U.S. Taxes in Canada are just over one-third, or 36.1 per cent, lower.
At the other end of the spectrum, corporate taxes are 81.4 per cent higher in France than the U.S., according to the report released Wednesday by accounting firm KPMG.
Lower corporate tax rates can be a huge competitive advantage when companies decide where to set up shop, said Greg Wiebe, managing partner in KPMG tax practice in Toronto.
“Business has the ability to set up manufacturing, distribution plants, and offices anywhere in the world depending on where it makes sense. Having a competitive corporate tax rate hopefully allows you to attract more business and investment into the country which creates jobs,” Wiebe said.
“We’re a small country and have a relatively small economy. We need to take advantage of anything we can to attract business into this country.”
While Mexico remains in the number one spot with the lowest total taxes, changes to the tax systems in Australia, Canada, and the Netherlands moved them higher in the ranking, conducted every two years.
The report tallies up the cost of income tax, capital, sales, and property taxes, as well as miscellaneous local taxes and statutory labour costs, in 95 cities across 10 countries. The U.S., the largest economy in the world, is used as a baseline.
While personal income taxes and sales taxes are still higher in Canada, payroll taxes have been reduced, capital taxes have been phased out, and corporate tax rates have been falling in recent years. Canada’s federal and provincial corporate tax rates are approaching 25 per cent. The U.S. federal tax rate for business starts at 35 per cent, and state tax rates vary.
Canada ranked third in the 2008 survey.
The introduction of the HST in Ontario and British Columbia is likely to enhance Canada’s standing in the coming years, Wiebe said. “The HST is quite a business friendly way of applying a sales tax.”
Among the ranking of cities, Vancouver comes out on top, and ahead of Monterrey and Mexico City. Seattle, its natural U.S. counterpart, ranked at 18.
Montreal and Toronto rounded out the top five, again showing a big tax advantage over U.S. cities in the eastern corridor, such as New York City, which came in at 27, Philadelphia at 14, and Boston, which captured the 13th spot.
Lower health care costs and provincial taxes in British Columbia helped boost Vancouver to the top of the list, Wiebe said.
Vancouver was also deemed the most attractive city, tax-wise, for manufacturing and corporate and information technology companies.
For research and development, Montreal ranked as the top Canadian city, taking the No. 2 spot behind Melbourne, Australia. Sydney, Australia; Vancouver; and Manchester, U.K. filled out the top five.
Australia moved up to the top spot from fifth place in the 2008 survey, as a result of a new refundable tax credit for research and development.
Tax Competitiveness by Country
1. Mexico
2. Canada
3. Netherlands
4. Australia
5. United Kingdom
6. United States
7. Germany
8. Italy
9. Japan
10. France
Source: KPMG’s Competitiveness Alternatives 2010, Special Report: Focus on Tax.
_______________________________________________________________
Canada's in fine shape.
When the US housing market collapsed Toronto real estate only took a pause.
Canada is #1 exporter and exports more oil to the US than the middle east and venezuela.
Their HST (harmonized sales tax) is a combined state and federal sales tax usually called a VAT (value added tax).
I had to administer it in my business when I was in Canada.
It is very efficient at raising tax revenues.
And everybody pays unlike the income tax.
When gas prices spiked to 4.00 a gallon here in the US it showed that there is blood to be squeezed out of a stone and life will go on.
The conservative government of Brian Mulroney that brought it in the federal GST (goods and services tax) 20 years ago was decimated in the next election but the tax has endured and been lowered to 5% from 7%.
IMO Something similar will be coming here to fix our huge budget problems.
They're certainly not going to go with my plan of sending half the government workers home and starting over with the other half
That's an easy to understand solution
Canada ranks behind Mexico, and far ahead of the U.S. in KPMG report
Madhavi Acharya-Tom Yew Business Reporter
http://www.thestar.com/business/article/808475--canada-scores-well-in-tax-report?bn=1
Canada ranks second to Mexico and far ahead of the U.S. on a list of tax-friendly countries for business, according to a new report.
In general, businesses in Mexico pay 40.1 per cent less tax than those in the U.S. Taxes in Canada are just over one-third, or 36.1 per cent, lower.
At the other end of the spectrum, corporate taxes are 81.4 per cent higher in France than the U.S., according to the report released Wednesday by accounting firm KPMG.
Lower corporate tax rates can be a huge competitive advantage when companies decide where to set up shop, said Greg Wiebe, managing partner in KPMG tax practice in Toronto.
“Business has the ability to set up manufacturing, distribution plants, and offices anywhere in the world depending on where it makes sense. Having a competitive corporate tax rate hopefully allows you to attract more business and investment into the country which creates jobs,” Wiebe said.
“We’re a small country and have a relatively small economy. We need to take advantage of anything we can to attract business into this country.”
While Mexico remains in the number one spot with the lowest total taxes, changes to the tax systems in Australia, Canada, and the Netherlands moved them higher in the ranking, conducted every two years.
The report tallies up the cost of income tax, capital, sales, and property taxes, as well as miscellaneous local taxes and statutory labour costs, in 95 cities across 10 countries. The U.S., the largest economy in the world, is used as a baseline.
While personal income taxes and sales taxes are still higher in Canada, payroll taxes have been reduced, capital taxes have been phased out, and corporate tax rates have been falling in recent years. Canada’s federal and provincial corporate tax rates are approaching 25 per cent. The U.S. federal tax rate for business starts at 35 per cent, and state tax rates vary.
Canada ranked third in the 2008 survey.
The introduction of the HST in Ontario and British Columbia is likely to enhance Canada’s standing in the coming years, Wiebe said. “The HST is quite a business friendly way of applying a sales tax.”
Among the ranking of cities, Vancouver comes out on top, and ahead of Monterrey and Mexico City. Seattle, its natural U.S. counterpart, ranked at 18.
Montreal and Toronto rounded out the top five, again showing a big tax advantage over U.S. cities in the eastern corridor, such as New York City, which came in at 27, Philadelphia at 14, and Boston, which captured the 13th spot.
Lower health care costs and provincial taxes in British Columbia helped boost Vancouver to the top of the list, Wiebe said.
Vancouver was also deemed the most attractive city, tax-wise, for manufacturing and corporate and information technology companies.
For research and development, Montreal ranked as the top Canadian city, taking the No. 2 spot behind Melbourne, Australia. Sydney, Australia; Vancouver; and Manchester, U.K. filled out the top five.
Australia moved up to the top spot from fifth place in the 2008 survey, as a result of a new refundable tax credit for research and development.
Tax Competitiveness by Country
1. Mexico
2. Canada
3. Netherlands
4. Australia
5. United Kingdom
6. United States
7. Germany
8. Italy
9. Japan
10. France
Source: KPMG’s Competitiveness Alternatives 2010, Special Report: Focus on Tax.
_______________________________________________________________
Canada's in fine shape.
When the US housing market collapsed Toronto real estate only took a pause.
Canada is #1 exporter and exports more oil to the US than the middle east and venezuela.
Their HST (harmonized sales tax) is a combined state and federal sales tax usually called a VAT (value added tax).
I had to administer it in my business when I was in Canada.
It is very efficient at raising tax revenues.
And everybody pays unlike the income tax.
When gas prices spiked to 4.00 a gallon here in the US it showed that there is blood to be squeezed out of a stone and life will go on.
The conservative government of Brian Mulroney that brought it in the federal GST (goods and services tax) 20 years ago was decimated in the next election but the tax has endured and been lowered to 5% from 7%.
IMO Something similar will be coming here to fix our huge budget problems.
They're certainly not going to go with my plan of sending half the government workers home and starting over with the other half
That's an easy to understand solution
Kstills
Dedicated LVC Member
Canada scores well in tax report
Canada ranks behind Mexico, and far ahead of the U.S. in KPMG report
Madhavi Acharya-Tom Yew Business Reporter
http://www.thestar.com/business/article/808475--canada-scores-well-in-tax-report?bn=1
Canada ranks second to Mexico and far ahead of the U.S. on a list of tax-friendly countries for business, according to a new report.
In general, businesses in Mexico pay 40.1 per cent less tax than those in the U.S. Taxes in Canada are just over one-third, or 36.1 per cent, lower.
At the other end of the spectrum, corporate taxes are 81.4 per cent higher in France than the U.S., according to the report released Wednesday by accounting firm KPMG.
Lower corporate tax rates can be a huge competitive advantage when companies decide where to set up shop, said Greg Wiebe, managing partner in KPMG tax practice in Toronto.
“Business has the ability to set up manufacturing, distribution plants, and offices anywhere in the world depending on where it makes sense. Having a competitive corporate tax rate hopefully allows you to attract more business and investment into the country which creates jobs,” Wiebe said.
“We’re a small country and have a relatively small economy. We need to take advantage of anything we can to attract business into this country.”
While Mexico remains in the number one spot with the lowest total taxes, changes to the tax systems in Australia, Canada, and the Netherlands moved them higher in the ranking, conducted every two years.
The report tallies up the cost of income tax, capital, sales, and property taxes, as well as miscellaneous local taxes and statutory labour costs, in 95 cities across 10 countries. The U.S., the largest economy in the world, is used as a baseline.
While personal income taxes and sales taxes are still higher in Canada, payroll taxes have been reduced, capital taxes have been phased out, and corporate tax rates have been falling in recent years. Canada’s federal and provincial corporate tax rates are approaching 25 per cent. The U.S. federal tax rate for business starts at 35 per cent, and state tax rates vary.
Canada ranked third in the 2008 survey.
The introduction of the HST in Ontario and British Columbia is likely to enhance Canada’s standing in the coming years, Wiebe said. “The HST is quite a business friendly way of applying a sales tax.”
Among the ranking of cities, Vancouver comes out on top, and ahead of Monterrey and Mexico City. Seattle, its natural U.S. counterpart, ranked at 18.
Montreal and Toronto rounded out the top five, again showing a big tax advantage over U.S. cities in the eastern corridor, such as New York City, which came in at 27, Philadelphia at 14, and Boston, which captured the 13th spot.
Lower health care costs and provincial taxes in British Columbia helped boost Vancouver to the top of the list, Wiebe said.
Vancouver was also deemed the most attractive city, tax-wise, for manufacturing and corporate and information technology companies.
For research and development, Montreal ranked as the top Canadian city, taking the No. 2 spot behind Melbourne, Australia. Sydney, Australia; Vancouver; and Manchester, U.K. filled out the top five.
Australia moved up to the top spot from fifth place in the 2008 survey, as a result of a new refundable tax credit for research and development.
Tax Competitiveness by Country
1. Mexico
2. Canada
3. Netherlands
4. Australia
5. United Kingdom
6. United States
7. Germany
8. Italy
9. Japan
10. France
Source: KPMG’s Competitiveness Alternatives 2010, Special Report: Focus on Tax.
_______________________________________________________________
Canada's in fine shape.
When the US housing market collapsed Toronto real estate only took a pause.
Canada is #1 exporter and exports more oil to the US than the middle east and venezuela.
Their HST (harmonized sales tax) is a combined state and federal sales tax usually called a VAT (value added tax).
I had to administer it in my business when I was in Canada.
It is very efficient at raising tax revenues.
And everybody pays unlike the income tax.
When gas prices spiked to 4.00 a gallon here in the US it showed that there is blood to be squeezed out of a stone and life will go on.
The conservative government of Brian Mulroney that brought it in the federal GST (goods and services tax) 20 years ago was decimated in the next election but the tax has endured and been lowered to 5% from 7%.
IMO Something similar will be coming here to fix our huge budget problems.
They're certainly not going to go with my plan of sending half the government workers home and starting over with the other half
That's an easy to understand solution
An interesting response that has nothing to do with what I posted.
Home prices have a historical average of 3X income.
That's Schiller, going all the way back to the 1600's.
Canada, Australia and China are in a bubble. The only question atm is when it pops.
An interesting response that has nothing to do with what I posted.
Home prices have a historical average of 3X income.
That's Schiller, going all the way back to the 1600's.
Canada, Australia and China are in a bubble. The only question atm is when it pops.
There's more to an economy than just housing and canadian prices have had a slow steady increase as opposed to the US burst bubble when they took a pause.
Bay street didn't bundle toxic BS mortgages into securities and stamp fraudulent tripple A ratings on them and sell them to trusting customers like wall street did.
I'm from Canada and like to come defend my country when it is criticized.
You cherry pick something and extrapolate it to fit your prediction.
Having lower business tax rates and universal healthcare makes Canada attractive to business investment which creates spending and respending that helps to support real estate value.
Kstills
Dedicated LVC Member
So, it can't happen here?
How the mortgages are issued is completely irrelevant as to whether or not RE is in a bubble.
The metric is simple: 3X income, too much over that is bubble, too much under that is a buying opportunity.
As the man said last nite, fair market value exists for a few seconds, then you're either over or under. However, sustained 'over' corrects eventually.
And why you think this is a 'criticism' of Canada is beyond me.
The data is what it is, you can excuse, use or ignore it as you will. But the Canadian housing market, like the Australian, like the Chinese, will correct.