Increasing TFSA contribution limits would be a ‘ticking time bomb,’ founder warns
Garry Marr / Financial Post
The two men who might be considered the fathers of tax-free savings accounts in Canada, now worth more than $132 billion, appear to be in disagreement over what happens next to their brainchild.
Read moreFinally — a tax idea even worse than income-splitting
Rhys Kesselman / iPolitics
The federal government has delivered on the first of its two major tax promises from the 2011 election campaign. Income-splitting has been extensively assessed and widely criticized for its revenue cost, its tilt toward higher-income families, and its failure to accomplish anything beneficial for the economy.
Read moreDoubling TFSA limits would cost billions, benefit the wealthy: Reports
Sheena Goodyear / QMI Agency
If the Tories go ahead with plans to double the contribution limit on tax-free savings accounts, it will cost the government billions of dollars and benefit only the very wealthy, two separate studies released Tuesday say.
Read moreTFSA 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.
Read moreTories’ 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.
Read moreDoubling TFSA limit will only help wealthy, study argues
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.
Read moreTFSA 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.
Read moreB.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.
Read moreHamilton workers’ wages shrinking, think tank says
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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