September 25, 2014 3:51 pm
Updated: September 25, 2014 3:54 pm

Quebec taxpayers still paying highest taxes in North America: study

Quebec’s tax system, particularly with respect to personal income taxes—is decidedly uncompetitive within Canada and more broadly North America.

File/Global News
A A

MONTREAL — Quebec taxpayers are paying some of the highest taxes in North America, according to a study released by the Fraser Institute.

The study said that Quebec’s tax system, particularly with respect to personal income taxes, is uncompetitive within Canada and North America.

The politically conservative Canadian public-policy think-tank noted that that the high rate of taxes is having a negative effect on the province’s economy.

“Quebec’s personal income tax rates are among the highest in North America, with combined federal-provincial marginal income tax rates approaching nearly 50 per cent for those Quebecers earning $136,270 and over,” the report noted.

“If the government wants to improve Quebec’s economic prospects, it should move ahead with changes to its tax system focused on increasing its competitiveness.”

Take a look at how Quebec compares:

Income levelTax rateRank out of 10 provinces
$50,00016.37%10
$75,00016.37%7
$150,00020.97%9

Read the report in full here.

Global News

© 2014 Shaw Media

Report an error

Comments

Global News