Let's put a stop to being OVERTAXED
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Looking for province wide if not nation wide support regarding the reason for the petition. I don't know about you, but I am annoyed at the amount of taxes we pay .... And where does it stop. What are we taxed on.
Here is some information for you from our Govt of BC website.
Personal Income Tax Brackets and Rates -
2016 Tax Year Taxable Income - 2016 Brackets Tax Rate
$0 to $38,210 5.06%
$38,210.01 to $76,421 7.70%
$76,421.01 to $87,741 10.50%
$87,741.01 to $106,543 12.29%
Over $106,543 14.70%
- Find archived personal income tax rates in Personal Income Tax Rates: 2007 – 2015 (Information Sheet 2017-001) (PDF)
Alternative Minimum Tax
If you're subject to minimum tax under the federal Income Tax Act, you're also subject to B.C. minimum tax. The B.C. minimum tax is calculated as a percentage of your federal minimum tax and is currently 33.7%.,
Tthe rate of PST is 7% on the purchase or lease price of goods and services, except for the following:
- Accommodation is 8% plus up to 3% municipal and regional district tax
- Vehicles is 7% - 10% or 12%
- Boats is 7% or 12%
- Aircraft is 7% or 12%
- Liquor is 10%
- Manufactured buildings is 7% of 45% - 55% of the purchase or lease price
We also pay property taxes, natural resource taxes, insurance taxes.
So now that we see it this way, let's let u read it another way.
You get your pay cheque you have worked so hard for. Instantly you notice you have paid income tax..time to pay your gas, cable, cell phone and hydro bills on which you pay more tax. You buy groceries for your household including toiletries and non edible products for which u pay tax, if u want to buy property u pay tax, if u sell it there is a property transfer tax. If you buy a vehicle so you have transportation to and from work, you pay tax. You pay tax on the fuel you put in it and tax on the insurance you have on it. If you sell it, there is another tax.
I hope u are seeing the bigger picture.
Enough with the taxes. Please sign and share to as many as you can.
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