The Canadian Taxpayers Federation (CTF) is sounding the alarm about Alberta’s income taxes increasing effective January 1st, 2020..In its annual New Year’s Tax Changes Report, the CTF projects that the average Alberta two-income household will pay between $70 and $222 more in income taxes in 2020 over 2019 since the province de-indexed its income tax brackets. Labelled “bracket creep” by Jason Kenney when he led the CTF in the early 1990s, this sees workers who earn the same income after an inflation-adjusted increase pay effectively more taxes by moving them into a higher bracket, despite having the same purchasing power..The budget effectively accepted the former NDP government’s higher tax levels as permanent, and has build small, permanent annual increases into them..CTF Alberta Director Franco Terrazzano took aim at the premier and former CTF president:.“Premier Jason Kenney is reaching into taxpayers’ pockets in 2020 with his sneaky backdoor tax grab, known as bracket creep. [He] promised to balance the budget without raising taxes, but he’s breaking that promise by hiking income taxes.”.During the 2019 election campaign, Kenney stated “It will be a credible path to bring our finances back to balance without raising taxes,” a promise repeated a month before the budget was tabled in October.
The Canadian Taxpayers Federation (CTF) is sounding the alarm about Alberta’s income taxes increasing effective January 1st, 2020..In its annual New Year’s Tax Changes Report, the CTF projects that the average Alberta two-income household will pay between $70 and $222 more in income taxes in 2020 over 2019 since the province de-indexed its income tax brackets. Labelled “bracket creep” by Jason Kenney when he led the CTF in the early 1990s, this sees workers who earn the same income after an inflation-adjusted increase pay effectively more taxes by moving them into a higher bracket, despite having the same purchasing power..The budget effectively accepted the former NDP government’s higher tax levels as permanent, and has build small, permanent annual increases into them..CTF Alberta Director Franco Terrazzano took aim at the premier and former CTF president:.“Premier Jason Kenney is reaching into taxpayers’ pockets in 2020 with his sneaky backdoor tax grab, known as bracket creep. [He] promised to balance the budget without raising taxes, but he’s breaking that promise by hiking income taxes.”.During the 2019 election campaign, Kenney stated “It will be a credible path to bring our finances back to balance without raising taxes,” a promise repeated a month before the budget was tabled in October.
