Sentences with phrase «per cent tax»

The oil slump has dragged down housing sales and prices in the energy heartland province of Alberta, and Vancouver slowed sharply after the government introduced a 15 per cent tax on foreign buyers in August.

Toronto's red - hot real estate market could get even hotter as foreign nationals looking to dodge a new 15 per cent tax on properties in Vancouver seek new places to invest, realtors say.

«The framework is the same and a one per cent tax is still material to homeowners living out of province.»

B.C. added a 15 per cent tax on property purchases.

«Even if the province puts a 10 per cent tax on foreign investors, does the province think someone who pays a million in cash will worry about another $ 100,000 in taxes?

The 15 per cent tax on foreign real estate buyers enacted this summer may have dampened foreign interest and will continue to do so in the short term, but Vancouver will remain attractive to investors from other countries, according to an RBC Economics report released October 12.

You are allowed to withdraw 25 per cent tax free, but you have to pay tax on the rest

The Budget has created a tax arbitrage between unit linked insurance policies (ULIP) and mutual funds as mutual fund investors have to pay 10 per cent tax on long - term capital gains, whereas ULIP investors do not.

Even after adjusting for the tax benefit for a policyholder in the 30 per cent tax bracket, one can not expect more than 8.5 per cent annual return.

The provision states that all life insurance policies that are not eligible for tax exemption under Section 10 (10D), will see 2 per cent tax deducted at source on the sum paid to the policyholder.

Income from all mutual funds,unit - linked insurance plans (Ulips), money - back policies or simply, all insurance policies where the annual premium is more than 5 per cent of the sum assured will attract a 5 per cent tax, according to the Direct Tax Code Bill placed in the Lok Sabha today.

The Montreal studio, which benefits from a world - leading 37.5 per cent tax break on production costs, is thought to inhabit over 1,500 staff.

The new president spoke of the importance of the EGDF, mentioning the body's influential role when French developers were negotiating a 20 per cent tax credit scheme for game development.

Our operating costs come solely from donations, and your donation is 100 per cent tax deductible.

Then, in April, the Ontario government introduced the Fair Housing Plan, a slate of measures to address affordability including a 15 per cent tax on foreign buyers in the GTA and surrounding area.

Canadians can contribute $ 2,000 above the limit over their lifetime, but anything beyond that is penalized typically with a one per cent tax per month on any excess funds.

At a 33 per cent tax rate, the individual only gets an after - tax 2 per cent return.

He would pay average 10 per cent tax after adjustments for age and pension income credits and have $ 24,706 per year or $ 2,060 per month if he starts benefits at 65 or $ 34,100 per year or $ 2,840 per month if he works to 70 and pays 12 per cent average income tax on the same basis.

To help offset that change, the Liberals have added a 33 per cent tax rate on income earned by Canadians in the top one per cent — those who make more than $ 200,000 per year.

If we assume the average federal tax rate on capital income is 25 per cent (most capital income is taxed in the higher 22 per cent, 26 per cent and 29 per cent tax brackets), this yields a revenue cost of $ 6.6 - billion, or 7 per cent of federal income tax revenues.

Previously, the 29 per cent tax bracket, which applies to incomes between $ 140,388 and $ 200,000, was the highest tax rate in the country.

Thirty per cent tax applies to withdrawals over $ 15,000.

He could lose 15 per cent of the difference between $ 81,800 and the OAS clawback start point, about $ 74,000, that's $ 1,170 dollars, then pay 20 per cent tax on the balance, leaving him with about $ 6,000 a month to spend.

If you want high - income earners to pay more tax by reducing their tax incentives, why not eliminate the 50 per cent tax - free portion of employee stock options?

Assuming 20 per cent tax on all income other than TFSA payments, it would leave her with about $ 39,500.

His total income including rental income will be about $ 78,670 per year before tax and about $ 5,700 after 13 per cent tax and no tax on the TFSA payouts for total income after tax of $ 6,600 per month.

This is equivalent to a 5 per cent tax - free return on the net RRSP / TFSA $ 2,000 contribution.

Allowing for 14 per cent tax on all income other than the TFSA zero tax payouts, the couple would have $ 6,500 to spend each month.

The figures capture the last month in which foreign property buyers were not subject to a 15 per cent tax implemented Tuesday by the B.C. government.

CIBC deputy chief economist Benjamin Tal predicts softer markets in Toronto and Vancouver in the year ahead, as government changes — including the 15 per cent tax on foreign buyers in Vancouver and federal mortgage rules changes — are felt.

He added that the province's move to control the city's overheated housing market by imposing a 15 per cent tax on foreign buyers of homes in Metro Vancouver as of Aug. 2 could reduce its bubble risk rating.

Figures from the B.C. government show a drop in real estate transactions in the Vancouver area after the provincial government brought in a 15 per cent tax on foreign buyers last August.

VANCOUVER — A legal challenge of a British Columbia levy on foreign home buyers has been filed in Vancouver, seeking a class - action lawsuit on behalf of those forced to pay the 15 per cent tax.

Last month was the second month that a 15 per cent tax applied to foreign buyers of property in the city.

Home sales in Vancouver began to dip before the 15 per cent tax on foreign buyers was implemented in August, but those declines have accelerated since, plunging nearly 39 per cent last month compared with October 2015.

Royal LePage CEO Phil Soper says the housing correction in Vancouver began seven months ago, around the time that the B.C. government introduced a 15 per cent tax on foreign nationals buying real estate in the city.

The next four to six months will be uncertain until the different players in the market decide how to react to the 15 per cent tax, said Anne McMullin, president of the non-profit industry association Urban Development Institute.

But the one per cent tax will add about $ 400 per month to the $ 2,300 he is already spending on the mortgage and condo fees.

Canadians living outside B.C. who own a property in these areas will be subject to a one per cent tax based on the assessed value, while foreign owners will pay two per cent.

Income at this point would be $ 9,374 a month before tax or $ 7,967 per month after splits of eligible pension income and 15 per cent tax.

TORONTO — Toronto's red - hot real estate market could get even hotter as foreign nationals looking to dodge a new 15 per cent tax on properties in Vancouver seek new places to invest, realtors say.

Home prices have been on a decline since April, when the province introduced more than a dozen changes — including a 15 per cent tax on foreigners purchasing property — aimed at cooling the Greater Toronto Area's real estate market.

The Ontario government moved earlier this year to cool the Toronto real estate market, bringing in more than a dozen measures including a 15 per cent tax on foreign buyers.

In August, the B.C. government introduced a 15 per cent tax on home purchases by foreigners in Metro Vancouver.

Even for a 40 per cent tax payer, the tax requirement can be as low as # 685 a year.

The proposal is simple: private schools will have to share their resources with state schools if they wish to continue receiving an 80 per cent tax break on business rates.

«But when I became an academic and hit the 40 per cent tax bracket, I stopped marking because it makes you a lot less tolerant of any issues that come with it.»

FASTS advocates several changes to the 150 per cent tax deductibility for R&D, by which a company spending A$ 0.1 million on research deducts A$ 0.15 million from its taxable income.

Now that his company is making a profit, McTighe may apply for the 150 per cent tax concession for R&D.

In Mexico, consumption of such drinks fell by 12 per cent in the first year after the introduction of a 10 per cent tax.