Tuesday, December 31, 2013

2014=More Taxes!

2014 is bringing with it even more taxes to be paid by South Shore residents and others in the province. Kevin Lacey of the watchdog group, the Canadian Taxpayers Federation, says life won't be any cheaper for residents here when you factor-in increased EI and CPP premiums and bracket creep. Thats when you earn a bit more than usual and the taxman grabs most of it.

Lacey says what the new increases mean is a South Shore family of 4, including 2 kids, earning $60,000. a year, will pay about $130. more in taxes in the new year than in 2013. Thats in addition to high gas taxes, income tax and the HST at 15 percent.