Education Article
How Much Tax Do You Pay ?The average Canadian pays half of their income in some form of taxes and some pay as much as 75%. We can show you how to minimize your taxes and teach you how to keep More Money in Your Pocket™.
Intro
Serious Tax Planning is more necessary than ever
Tax planning can have a profound long-term impact on a person’s standard of living and financial security.
Tax Planning is not just for the few of the top income earners but for every Canadian. You owe it to yourself and to your family to keep more of what you earn.
You can benefit from the help of experienced financial planners who can implement strategies to keep More Money in Your Pocket™.
Tax Minimization
More Money in Your Pocket
Financial Education
Financial Advice You Can Trust
Financial Freedom
Secure Future For Your Family
Famous Quote
“If you don’t find a way to make money while you sleep, you will work until you die.”
Warren Buffett, Financial Guru
Impact of Taxes
The Taxation Impact on Your Financial Future
The Challenge
Many Canadians retire broke, dependent on friends & family and the Federal Government for their primary source of income.
Canada’s personal income tax rates are undeniably uncompetitive compared to our southern neighbors in the United States. According to Fraser Institute research, Canada had the 7th highest combined top tax rate out of 34 other industrialized countries in 2017.
The percentage of tax that Canadians pay is very high.
The Tax Problem
From $11,809 to $42,960 = 20.5%
From $42,961 to $46,605 = 24.15%
From $46,606 to $75,656 = 29.65%
From $75,657 to $85,923 = 31.48%
From $85,924 to $89,130 = 33.89%
From $89,131 to $93,208 = 37.91%
From $93,209 to $144,489 = 43.41%
From $144,490 to $150,000 = 46.41%
From $150,001 to $205,842 = 47.97%
From $205,843 to $220,000 = 51.9%
From $220,000 PLUS = 53.55%
Highest Tax Bracket 2008
46.41%
Increase over 10 Years
7.41%
Average Inflation Rate
1.73%
Inflation over 10 Years
17.30%
When you combine the tax increase with the inflation numbers,
the purchasing power of the dollar has dropped
by almost 25%
Famous Quote
“An Investment in Knowledge pays the Greatest Interest.”
Benjamin Franklin, American Polymath
Number Of Taxes
How Many Different Taxes Do We Pay?
Employment Taxes
Canada Pension Tax
Employment Insurance Tax
Health Tax
Consumers Taxes
Harmonized Sales Tax (HST)
Liquor Tax
Tobacco Tax
Vehicle Tax
Carbon Tax
Travel Tax
Asset Taxes
Property Tax
Commercial Property Tax
Capital Gains Tax
Based on the revenue from income taxes as a percentage of GDP,
Canada is the 4th highest taxed country in the World.
Source: Organization for Economic Cooperation and Development Data 2017
Gold Standard Group and its associates specialize in setting up insurance-based tax-shelter accounts to help you get more after-tax money in your pocket, create wealth for you, your family, your business, and future generations.
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CONTACT US
Gold Standard Group
30 Via Renzo Drive, Suite 259 Richmond Hill, Ontario L4S 0B8
+1 866 878 0088
connect@yourgoldstandard.org