Sentences with phrase «people pay less tax»

One major benefit of super is that most people pay less tax than if they had invested the money outside super.

This is called income «attribution» and CRA says the rule is there to avoid people paying less taxes than they should.

For those making less than $ 50,000, the extra contribution room could make TFSAs preferable to RRSPs, Coleman says, because RRSPs aren't as tax - efficient for people paying less tax.

Give this information, is it better to have 401k pre-tax which would mean the person pays less taxes in US, and when withdrawn after retirement assuming the tax bracket will be lower so, the withdrawl would also attract less tax penalty.

Not exact matches

The average residential property tax bill is about $ 5,500 annually, less than half of what Westchester residents pay (people in Fairfax still complain about property taxes being too high).

«I think small businesses should be paying less taxes, we just have to make sure that it's done right... We have to know that a large percentage of small businesses are actually just ways for wealthier Canadians to save on their taxes and we want to reward the people who are actually creating jobs.»

In other words, one can not simply look at tax rates and conclude that because a two - earner family pays less tax than a single earner family with the same income the tax system is treating people unfairly

Because of the limitations of Internal Revenue Code Section 162 (m), we generally receive a federal income tax deduction for compensation paid to our chief executive officer and to certain other highly compensated officers only if the compensation is less than $ 1,000,000 per person during any fiscal year or is «performance - based» under Code Section 162 (m).

The lower the expected path of national income, the less favorable the distribution of that income is expected to be, and the greater the uncertainty over the mix of tax rates and benefits a person or business expects to pay and receive, the less they will spend or invest today.

Based on the limitations imposed by Code Section 162 (m), we generally may receive a federal income tax deduction for compensation paid to our Chief Executive Officer and to certain of our other highly compensated officers only if the compensation is less than $ 1,000,000 per person during any year or is «performance - based» under Code Section 162 (m).

For short - term capital gains — for assets held for less than a year — people pay taxes at the same rate as they do on their ordinary income.

Many of these myths seem to be the result of wishful thinking; the world would be a much nicer place to do business in if we all had less paperwork, paid fewer taxes and had people showering us with free money.

One of the key ideas underlying a 401 (k) is that most people drop into a lower tax bracket when they retire and stop earning a salary, so that when they pull money from their 401 (k) they're paying less tax than they would have paid on that money while working.

«Dividend cuts would take more from poor people than rich people because rich people would pay less taxes if their dividend was cut,» said Gunnar Knapp, a top economist on the region at the Institute of Social and Economic Research at the University of Alaska Anchorage.

«These accounts are built to give people tax benefits in saving for college and people who aren't using them are missing out on those tax benefits and potentially have less money for college when it comes time to pay for that,» said Stuart Ritter, a certified financial planner with T. Rowe Price.

Many people believe that once they retire, they will pay less in taxes due to a lower income.

We ran into one cyclical recession in the» 70's, and the Republicans seized on it as an excuse to rig government and society for the benefit of people who are already rich, while taking away opportunities from everyone else... then they crushed the unions so that workers would never be able to get back better pay and better job security, while investors make more and more and pay less and less in taxes.

I'm less oncerned that the religious people have taken over our media and advertising, than I am concerned that I PAY more taxes because religious organizations don't pay their fair shaPAY more taxes because religious organizations don't pay their fair shapay their fair share.

I am working on a plan like this in Canada (as there are far less people and it is easier to get through) because being from a socialist country it is vital for people to feel the money they pay in taxes is being spent on things that benifit them, even if it is only a percentage of the overall amount.

Do you really think that we can sustain a government with less than half the people in this country paying taxes, oh let me guess the liberal media didn't mention we can turn out like Greece so it will never happen to us!

We'd get a healthier work force, less people filing for bankruptcy due to medical debt and less tax dollars going to pay hospital bills for people who can't or won't afford it.

Study into carbon tax on high - emissions food finds people would be more likely to eat less meat if they had to pay more for it

«The number of people paying taxes in Lagos is less than 600,000 people and we are 22million and then 67 percent of the people living in Lagos are below the age of 35 and even the retirees, how much are they paying?

Furthermore a person paying cash for a house may pay more tax, but they are paying less for the house so the are in effect paying «interest» to the government, while those who borrow pay interest to a bank.

These taxes fund property protection, so say the person with the 100 $ backpack that represents 10 % of his monthly income has paid less in both percentage and actuality then the person with the 10.000 $ car that got stolen.

What is more unfortunate is seeing numerous people within Labour and on the left joining in, perceiving in some vague unspecified way that Laws» misguided attempts to protect his private life and Alexander's significantly less misguided decision to only pay the amount of tax he was legally obliged to were somehow the moral equivalent to the more eyewatering examples of house flipping that Labour ministers got up to in the last parliament.

(It seems likely that the main rise in public spending and reduction of tax revenue over the 2008 - present period has been due to economic contraction rather than policy change - unemployed people claim benefits, don't pay tax on wages and pay much less VAT on purchases.

That's because we've raised the point at which you start paying income tax, and now over 20 million people will pay # 600 less in income tax than they did under Labour.

The cost of maintaining e.g., a public road is more or less the same no matter how many people use it, and so if you have lots of people living and paying taxes on a street, each person should not have to pay much to maintain it.

Government must ensure that all Green Deal compliant measures pay the lower 5 % rate of VAT as it is perverse to charge 5 % tax on a product, i.e. energy, that we want people to use less of, but 20 % on the measures which help them stop using it.»

The government pension plan is funded via taxes and pays out a means tested amount, so well to do people get less (possibly nothing) than poor people do.

«Liberal Democrats are already taking action to help the lowest paid, by ensuring that over a million working people in Wales are now paying # 850 less in Income Tax than they were under the last Labour Government.

The Lib Dems unveiled evidence today that the poorest 20 % of people are losing more of their income in tax than they did in 1997, while the richest 20 % are paying less.

Not least given increasing automation and offshoring, less people paying tax and National Insurance and so on the face of it less revenue flowing to the Treasury.»

It is worth noting that while people under age 65 in the U.S. live in a heavily market - dominated economy where poor employment outcomes mean poverty and a lack of access to health care, almost everyone over age 65 has most of their healthcare paid for by Medicare, (a FICA tax financed, single payer system that pays providers more or less the same rates as private insurance companies and has few cost controls), more than half of their nursing home costs paid by Medicaid, (which is stingy in how much it pays providers and moderately means tested), and receives enough of a guaranteed income from the combination of Social Security and SSI payments to keep the poverty rate for people age 65 +, (even if they have no retirement savings of their own), above the poverty line, regardless of the state of the local economy.

Essentially, this amounts to imposing a tax that is then used to subsidize premiums (charging everyone a tax and then paying people to get health insurance is the same thing as charging people who don't get insurance a «penalty»), but Obama ran on a platform of not raising taxes on people making less than $ 250,000, so he went through this «penalty» shenanigan so he could pretend to have kept his promise.

He even goes much further than Labour ministers ever dared by using the «R» word (redistribution) and spelling out exactly what he means — «a tax system that means people at the bottom end of the scale pay less and at the top end of the scale pay more».

Everyone sees in it what they want to see, anyway, so I choose to see: no - one's that fussed about gay people anymore, and we'd all like to pay less tax, thanks.

In the American federal system, when people pay state and local taxes, they have less money left over to pay federal taxes.

«People who need essential services will wind up paying the price for giving additional tax breaks to the wealthiest New Yorkers, because less funding means the services they depend on will be reduced or eliminated.»

If that's the scenario, people will pay slightly less in sales taxes for three months and the county government will be out some $ 6 million in sales - tax revenue, which Cahill claims Hein has squirreled away in budget surplus.

Shadow Chancellor Ed Balls has denied confusion over Labour's pledge to scrap rules allowing some wealthy people to pay less tax on overseas earnings.

Labour and Liberal Democrats divide evenly over support for low - paid people, while those Tories who take sides divide by two - to - one in favour of cutting taxes and paying less in income support, tax credits and housing benefit.

Yes, it's an uncertain number and people can choose to pay more or less tax so it doesn't feel like a tax rise to them (although they may be hit with unexpected tax bill).

«We respect the will of the British people, but not the will of this Tory government to impose fewer rights at work and worse public services, while the largest corporations pay even less tax.

«If you want to know why your taxes are going to go up while corporations making billions of dollars will pay less, it's because not enough people vote,» he said.

Degree holders also pay far more in taxes and cost less in public - welfare spending over their lifetimes, with bottom - line estimates ranging from $ 250,000 to $ 500,000 per person.

But a lot of people don't know that married couples actually get a marriage bonus, and often pay less income tax than they would if each partner were single.

Many people actually need less income to maintain their standard of living in retirement because they're no longer contributing to retirement plans and paying Social Security and Medicare taxes.

I'm enticed by paying less taxes, and I think most people are.