TFSA doubling would cost billions more than income splitting, more skewed to the wealthy: new study

OTTAWA—The existing Tax-Free Savings Account scheme is projected to cost the federal government up to $15.5 billion annually when it matures, and doubling the contribution limits would shift additional billions from tax revenues into the pockets of the already well-off, a new Broadbent Institute study has found.

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Tories’ TFSA promise would mainly benefit the wealthy: report

Bill Curry / Globe and Mail

A plan to double the amount people can put in a tax-free savings account is facing new criticism that – like income splitting – it would benefit mainly the most well-off Canadians.

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Doubling TFSA limit will only help wealthy, study argues

James Fitz-Morris / CBC News

A new study into tax-free savings accounts says there is no justification "on either economic or equity grounds" for doubling the contribution limit without conditions.

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Two studies warn against increasing TFSA contribution limits

Lee-Anne Goodman / The Canadian Press

OTTAWA - Two studies on tax-free savings accounts sound alarm bells about their long-term fiscal impact if the Conservative government keeps a 2011 campaign promise to allow people to park almost twice as much money in the popular savings vehicles.

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TFSA proponent warns against increasing limit

Peter O'Neil / Vancouver Sun

OTTAWA — Prominent B.C. economist J. Rhys Kesselman is horrified by the Frankenstein’s monster that has evolved from a tax policy idea he advanced in 2001.

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Hamilton workers’ wages shrinking, think tank says

Hamilton Spectator

New research shows that workers across most of Ontario - including Hamilton - are becoming poorer, despite rising income levels across much of Canada.

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B.C. income growth worst in Canada: analysis

Peter O'Neil / Vancouver Sun

OTTAWA — B.C. experienced the worst income growth — in fact, incomes declined — of any province in Canada during the 2006-12 period, according to an analysis of Statistics Canada data by an Ottawa think-tank.

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Toronto, Vancouver Among Cities Seeing Falling Wages

Daniel Tencer / Huffington Post Canada

You’ve probably read stories about how Canada’s wage growth is nothing to write home about, but new research from the Broadbent Institute adds a surprising dimension to the story: No fewer than 15 of Canada’s 32 largest metro areas saw incomes slide during 2006-2012.

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Income inequality shows the 1% will soon own 50% of all wealth, says Oxfam

CBC Radio / The Current

In a week where the U.S. President has signaled new taxes and fees on the wealthiest American individuals and corporations and where the financially and politically powerful meet in Davos, Oxfam is warning of growing inequality across the globe. Today we look at the implications of counting up the haves and have-nots. 




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Toronto workers’ wages shrinking in contrast to other provinces, think tank says

Sara Mojtehedzadeh / The Toronto Star

Lynn Beamish knows the value of a steady income. As an advisor in the financial services sector, she sees many of the city’s workers struggling to make ends meet.

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