Intoduction
The tax burden on Nova Scotians is the second highest in Canada, after Quebec, and this causes people and businesses to leave Nova Scotia and weakens our economy every year. To make Nova Scotia more affordable and more attractive to people and businesses we must lower the tax burden to be more competitive.
Facts
Alberta has the lowest income taxes in Canada and that is what made it the most attractive province for people and businesses, in combination with the oil sector is what made Alberta the wealthiest province in Canada, and even given their lower taxes (in comparison to other Canadian provinces), they contribute the most (per capita) to equalization payments that go to other provinces.
Provinces that get equalization payments are also the highest-taxed provinces, and the amounts per capita are proportional to the tax burden. Quebec gets more equalization payments per capita than any other province and it also has the highest tax burden in Canada. Ontario became a recipient of equalization payments a year after it introduced the surtax.
Raising taxes does not reduce deficits, but drives high earners out of the province or causes them to initiate changes to the structure of their salaries, such as replacing monetary payments with other benefits that are not taxed to stay in lower tax brackets.
Our Objective
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Have a flat income tax of 11.4% with no exemptions instead of the existing brackets.
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Commitment to lower taxes further as the economy grows.
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Reduce corporate income tax by half within 3.5 years.
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Eliminate the carbon tax in Nova Scotia (as Alberta did)
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Collect our own taxes rather than have the federal government control what we get (as Quebec does)
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Eliminate taxes on medical cannabis.
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Exempt baby items from the provincial part of HST.
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Exempt prepared food items in grocery stores from the provincial part of HST.
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Exempt physical fitness equipment, gym passes, and classes from the provincial part of HST
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Increase taxes on non-recyclable packages.
Closing Statment
We have chosen 11.4% for the point of reduction as this is the percentage where the province would generate the same income it does today. To put things into perspective as we try to recruit Dr.s and other specialists this would put 9.6% more money into their pockets.
Whereas Nova Scotians are now facing multiple crises in healthcare, food security, homelessness, and Inflation. Removing some of this financial burden will help lower the overall cost of living, leaving more money in the pockets of everyone who resides, works, and or does business in Nova Scotia.
