Apr 20, 2015 – News Today

Don Cayo: A ‘backdoor’ income tax increase? Guess who’s to blame

If you’re irked by the backdoor tax hike my colleague Pete McMartin wrote about this week — the quiet lowering of the threshold for phasing out provincial homeowner grants that help cover property tax bills — there’s another one that may be even worse. McMartin’s original point was that in 2012 homeowners got the full grant ($570 for most people, although up to $770 in some circumstances) if their houses were worth $1.295 million or less, but for the last two years the cutoff to qualify has been reduced to $1.1 million. This equates to a de facto tax increase, he noted. Read More