Sentences with phrase «high income earners received»

Not exact matches

WHAT THEY DID: While the Senate bill would cut tax rates for all income groups, on average, higher earners would receive the largest benefits, according to the Tax Policy Center, an independent Washington Policy group.

Meanwhile, high - income earners make up just 12.5 percent of cost - burdened households but receive 60.1 % of federal housing assistance.

The federal government also announced it would raise the salary cap so that higher - income earners would also contribute and receive more CPP.

Rueben said that for the approach to work, states would have to figure out what to do with the income of high - earners who receive money from investments rather than jobs — something Cuomo said he could address through a tax on carried interest.

The first is applied on a per hour basis based on the annual income of the parent, with low income earners receiving higher rebates and high income earners not receiving anything.

In other words, when such a high - earner receives a cash bonus on top of the regular salary, those «last» dollars will be taxed at 53.53 %, as would interest income in non-registered investment accounts.

The federal government also announced it would raise the salary cap so that higher - income earners would also contribute and receive more CPP.

Since Social Security replaces a higher percentage of a low - wage worker's pre-retirement income than that of a high - wage earner, some workers were receiving greater benefits than intended.

High - income earners who expect the federal tax rate to increase in 2016 may consider the opposite course of action — receive income in 2015 and defer expenses to 2016, where possible.

«From a future planning perspective, the other major announcement of note was the restriction of pensions tax relief for those with income in excess of # 150,000, meaning higher - earners will no longer receive some of the tax advantages around pensions that they previously enjoyed.

Plans might also have maximum benefit amounts, which means that, especially for high - income earners, the income received for your family isn't nearly what you're used to each month.

Under the old code, a household's income received tax relief through divorce because the higher - paid earner (typically, with the bigger tax bill), is transferring income to the lower - paid spouse, (who often has a less burdensome tax rate).