Economic Issues 2D03
Tax System and Tax Policy: Taxation of High Incomes (A5)
In this section, draw on Statistics Canada’s public tables to cover the following:
Who are the top 1%?
Compared to the bottom 50th percentile of tax filers, how has the income share and effective tax rate of the top 1% evolved over the data period?
By province, how has the income share and effective tax rate of the province-specific top 1% evolved over time?
Consider the following proposal to increase the top marginal tax rate on the top (province-specific) 1%:
|Base Tax System, 2020||Fictitious System, +5|
|Top MTR threshold ($)||MTR (%)||Top 1% MTR threshold ($)||MTR (%)|
Cover the following issues (by province) with this proposal (Assume a constant ETI of 0.664):
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