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Ontario Votes 2003
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Main > Features > Taxation Platforms
Election Day: Oct. 2, 2003   

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Party Platforms: Taxation
by Paddy Moore

Here are the highlights of the tax platforms from the Liberal, New Democratic and Progressive Conservative parties:


 
Liberal Tax Platform                                 [top]
Hold the line on taxes, both corporate and personal.
Abolish tax credit for private-school tuition.
Create tax credit for training employees.
Create incentives for production of renewable energy sources.


New Democratic Party Tax Platform         [top]
Add two new tax brackets: one for people who earn between $100,000 and $150,000 a year, and another for people who earn more than $150,000 a year. The additional revenue would be used to fund the education funding recommendations made by Mordechai Rozanski.
Restore corporate tax rates to the same level as during the Tories' first term, using the additional money for "economic and social infrastructure."
Allow cities to levy hotel room tax, and use the money to promote tourism.
Allow cities to create special "Main Street" category of business tax.
Change law requiring homeowners to pick up entire property tax increases in some cities because business tax rates are capped and protected.


Progressive Conservative Party
Tax Platform                                               [top]
Make first $5,000 of mortgage interest tax deductible, which could save homeowners up to $500 a year.
Complete the delayed 20-per-cent cut to personal income taxes by Jan. 1, 2004. Cost estimated at $900 million.
Eliminate the provincial education portion of property taxes paid by seniors, which would save the average senior household $475. No cap proposed. Cost estimated at $450 million.
Raise individual surtax ceiling from $60,000 to $75,000 by Jan 1, 2005.
Provide tax credits for caregivers supporting disabled or elderly family members, for an estimated average saving of $300 a year. Cost estimated at $50 million.
Speed up full implementation of tax credit for private school tuition, saving up to $3,500 for those parents with a child in private school.
Cut capital tax rates on employers by 10 per cent for 2004.
Reduce small business income taxes to five per cent in 2004, and four per cent in 2005.
Cut corporate income taxes for manufacturing and processing companies to 10 per cent for 2004, nine per cent for 2005, and eight per cent for 2006.
Cut general corporate tax rate to 11 per cent for 2004, 9.5 per cent for 2005, and eight per cent for 2006.
Devise tax breaks for companies and farmers investing in creating their own renewable energy sources.
Prohibit new taxes or tax increases by a municipality without approval from citizens through a referendum. However, a council would be allowed to levy new local gasoline taxes or hotel room taxes if approved through a referendum.
Create some kind of tax incentive to encourage clean, renewable and alternative energy supplies, such as wind and solar power.

 


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