Sentences with phrase «less tax drag»

Not exact matches

If one is earning less than the federal basic personal amount for whatever reason, could they not pull out the difference between what they earned and the Federal basic amount ($ 11,635 for 2017) and not pay any tax on it, then place this in their TFSA and avoid any future tax drag?

We expect, given the finding that Retail taxes produce less of a drag on the economy than Income taxes that if a government decides it must raise new taxes (perish the thought), then it ought by the Precautionary Principle do so by reducing the Income Tax rate so low as possible and raising the Retail Tax rate to meet the needs of the state — for instance to pay off debt accumulated by fighting foreign wars.