Thursday, April 6, 2017

FROM 0 TO 50 IN 100 YEARS

The History and Development of Canada's Personal Income Tax.
Livio Di Matteo’s essay contrasts today’s personal income tax with where the tax started. One great difference between now and then is how little revenue the income tax originally raised. As a share of total federal revenue, personal income taxes went from just 2.6 percent in 1918 to an expected 51 percent in 2017.
The number of Canadians who pay personal income taxes has also risen sharply. As late as 1938, only 2.3 percent of the population filed income taxes. Now almost 75 per cent of Canadians do.

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