Economy

Canada’s Personal Income Tax System Doing More Harm Than Good

Canada’s Personal Income Tax System Doing More Harm Than Good
The Canada Revenue Agency headquarters in Ottawa. Tax experts reiterate that the tax code is too complex and needs to be reformed. The Canadian Press/Sean Kilpatrick
Rahul Vaidyanath
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NEWS ANALYSIS

Tax reform in Canada is badly needed and it can’t keep getting put off.
On the corporate side, Canadian businesses’ lack of competitiveness relative to the United States has been a thorn in the side of the economy. A closely entwined issue is the personal income side due to the highly progressive nature of the tax system—five tax brackets—which reaches a top rate of 53.5 percent.
Rahul Vaidyanath
Rahul Vaidyanath
Journalist
Rahul Vaidyanath is a journalist with The Epoch Times in Ottawa. His areas of expertise include the economy, financial markets, China, and national defence and security. He has worked for the Bank of Canada, Canada Mortgage and Housing Corp., and investment banks in Toronto, New York, and Los Angeles.
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