Kim G C Moody
@KimGCMoody
Tax guru, small business advocate, love the study of leadership and passionate public speaker.
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UPDATE: We now have the rate details.
And this is much broader than the “millionaires’ tax” initially advertised.
The proposed B.C. provincial rates would increase:
• 16.8% → 18.8% on taxable income from $190,405 to $265,545
• 20.5% → 22.5% from $265,545 to $1 million
• A new 24.5% rate above $1 million
That means the combined federal/B.C. top marginal rate would become an astonishing 57.5%.
And notice where the tax increases actually begin: roughly $190,000, not $1 million.
So much for simply asking “millionaires” to pitch in a little more.
I’ll have much more to say about this.
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