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Caledon Citizen https://caledoncitizen.com/from-queens-park-by-sylvia-jones-mpp-stop-the-estate-administration-tax/ Export date: Wed Nov 27 23:29:11 2024 / +0000 GMT |
From Queen's Park by Sylvia Jones MPP — Stop the Estate Administration Tax Ontarians pay multiple forms of taxes throughout their lives.Sales tax, business tax, income tax, gas tax are just a few examples. But even when an individual passes away, they still have to pay a tax on the estate they owned upon their death, known as the Estate Administration Tax. When this tax was first established in Ontario 20 years ago, the tax burden was considerably smaller. Now Ontarians are paying thousands of dollars in taxes that this government brought forward as well as the Estate Administration Tax. In Ontario, this graduated tax levied on the value of an individual's assets upon their death is the highest of any province across Canada. In comparison, an estate in Ontario valued at $500,000 would pay $7,250 in tax; the same estate in Quebec would pay $65, $400 in Alberta, $820 in Nova Scotia, $2,000 in Prince Edward Island, $2,500 in New Brunswick and $3,500 in Saskatchewan. As a result, in some cases families are forced to sell the family business or the family farm, because they cannot afford to pay the tax on the property upon a loved one's death. Families across Ontario shouldn't be forced to have to give up their treasured family possessions that have been in the family for years, decades or even generations. That is why my Leader, Patrick Brown, brought forward his private member's bill, Bill 136 — the Estate Administration Tax Abolition Act. Bill 136 would eliminate the Estate Administration Tax and replace it with a capped fee of $180 for when an individual files the necessary court documents to administer the estate. Patrick understands that Ontarians deserve some tax relief, especially during this difficult time when a loved one passes away. Unfortunately this government sided with politics over helping Ontarians by voting against Bill 136. With rumours constantly swirling around at Queen's Park of other possible tax grabs like a carbon tax, the Liberal government needs to consider the negative effects their new and existing taxes have on the lives of hard-working Ontarians. This government should show leadership and eliminate the Estate Administration Tax, helping relieve an unnecessary tax burden on Ontarians. I encourage everyone to sign my petition calling on the government to repeal the Estate Administrative Tax, which can be found on my website at www.sylviajonesmpp.ca |
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Post date: 2015-12-08 18:02:39 Post date GMT: 2015-12-08 23:02:39 Post modified date: 2015-12-08 18:02:39 Post modified date GMT: 2015-12-08 23:02:39 |
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