Federal stuff and provincial stuff
Lots going on politically in Canada. Here's a quick recap and my views:
Harper Government is finally able to scrap the per vote subsidy to parties. You support a party? Donate and get a tax rebate. That simple. This will put the nail in the coffin for the Bloc, and hurt the Liberals. Dippers and Conservatives will need to fundraise more and shouldn't have difficulty, but this will further solidify more of a two party system with the Conservatives becoming the natural governing party. Liberals just don't have the money anymore.
On another policy, the feds now have it where a small business will get a tax credit for every person they hire within the next year. I just filled one of these out for one of the employees I now manage. It wasn't an easy form to complete, but we'll get $10k if approved. We'll likely use it for more software training or profit share. See how it works people!
Alison Redford will be sworn in as Alberta Premier on Friday. She's already flip-flopped though, first saying she'd wait until Spring for the next Legislative session, but is now saying a Fall session will happen. Just wondering if they'll have all that scaffolding down in the Chamber by then. She's also appointed leadership "rival" Doug Horner to his same job as Deputy Premier, and Edmonton MLA Dave Hancock to House Leader again. Hancock apparently pulled in a lot of votes for Gary Mar in his riding. She's also moving ahead with her promise to restore $107 million for teachers and suggested ransacking the Heritage Sustainability Fund to do that. No debate on that though. Who needs it when the big ATA union voted you in. That said, a shaky start.
In PEI, Liberal Ghiz wins again. NDP in Manitoba will likely win. And Ontario? Well, if you wanted to take a course on how to beat the living pulp out of your opponent who was leading by a good margin, and then cause them to lose a pile of support over an election where your team is back in majority territory, the Ontario Liberal War Room led by Warren Kinsella would be your study case. I hope he writes a book about it, like he has before, because it would be an interesting read. I can't imagine how frustrated Ontario conservatives are with the Tim Hudak campaign. It's almost comical. Kinsella's names are a riot and the fact that I can remember them, rings true how effective he is: "Frat boy Timmy", "Tea Party Tim", "Tobacco Tim".
Posts
3 comments:
Love this post except for one wrong message. You do not get a tax refund for making a donation. What you do get, if you owe federal tax, is a tax credit for that amount.
A tax refund is when you get a cheque in the mail.
ex. If you owe x amount in federal tax, the amt of the political tax credit is subtracted and you send in the rest. If you owe no federal tax you do not get a refund of your tax credit.
Because a lot of people get a refund, due to other deductions, this refund would be increased by the amt of tax credit.
But if you owe no federal tax, your refund will not be increased.
Can't believe Conservatives support elimination of the per vote subsidy without elimination of the tax credit as well.
At least under the per vote subsidy, my tax dollars were directed to the party I supported.
Under the tax credit, my tax dollars go (proportionately) to the party who is the best fundraiser.
If Conservatives were doing this on principle and not just to screw the Liberals, they'd do the right thing and eliminate all tax subsidies to political parties.
The tax credit is higher donating to a political party than a charity!
End of rant.
ANon, how do you know the tax dollars to political parties went to the party you support.
Re charity or political donations, the charity donation amount is always used to increase your non refundable tax credit. The political donation amount is only used to reduce the amt of federal tax you might owe. Don't owe federal tax, you get no deduction, refund or anything. ZERO.
Post a Comment