Home FAQ Search Memberlist User Groups Register Login   

BloggingTories.ca Forum IndexBloggingTories.ca Forum Index
    Index     FAQ     Search     Register     Login         JOIN THE DISCUSSION - CLICK HERE      

*NEW* Login or register using your Facebook account.

Not a member? Join the fastest growing conservative community!
Membership is free and takes 15 seconds


CLICK HERE or use Facebook to login or register ----> Connect



Goto page 1, 2  Next  

Post new topic   Reply to topic Page 1 of 2
View previous topic :: View next topic  
Author Message
SFrank85





Joined: 03 Mar 2007
Posts: 2269
Reputation: 59.8
votes: 4
Location: Toronto - Scarborough Southwest

PostPosted: Thu Mar 26, 2009 3:42 pm    Post subject: 2009 Ontario Budget Reply with quote

Quote:
Ontario will plunge into deficits totalling $56.8B over 7 years
The Canadian Press


TORONTO ó Make room in that gaping fiscal hole you're digging Canada -- beleaguered Ontario is jumping in with $56.8 billion in deficit spending over seven years.


The province will sink into massive deficits as it rips apart its tax system and pumps the economy full of high-octane infrastructure dollars designed to overhaul its economic clunker into a leaner, meaner, more business-friendly machine.


Ontario's red ink follows a parade of deficit spending among the provinces hurting from the global economic downturn, with only Saskatchewan and Manitoba emerging unscathed so far.


The federal government's January budget projected $85 billion in deficits by the spring of 2013, when it hopes to break free from the recession.


Ontario will slash corporate taxes to soup up its investment appeal, but may hit the skids with a politically risky plan to merge its provincial sales tax with the five per cent federal GST in 2010 to help reduce business costs.


The $109-billion fiscal plan will give most Ontario residents a modest income tax break and offer government cheques of up to $1,000 to ease the pain of switching to a single 13 per cent tax in 2010, with Ottawa kicking in $4.3 billion over three years.


Businesses will also see corporate income taxes drop to 10 per cent in 2013 from the current 14 -- a major detour for a Liberal government that had repeatedly defied the demands of its federal masters to slash taxes to kick-start Ontario's stalled economy.


This year, tax reform is "essential," said Finance Minister Dwight Duncan, who defended his about-face as a necessary shift to navigate the uncertain road ahead.


"This package is the right package for the right time," he said.


"The world's changed since last year -- it's a much different world than last year. I never imagined a George Bush administration would nationalize banks. I never thought I'd see things like that."


While past Liberal budgets splurged on education and health, this one will try to rev up a sluggish economy and create jobs with $27.5 billion to build hospitals, roads and public transit and by adding nearly $700 million for skills training.


But the road to economic recovery will be a bumpy one, starting with a record $14.1-billion deficit this year and $12.1 billion in the next due to plunging government revenues.


The last time Ontario saw a deficit that large, the NDP held the province's purse strings, "Basic Instinct" was big at the box office, Charles and Di's marriage was on the rocks and Johnny Carson was retiring from "The Tonight Show."


Ontario will keep bleeding red ink until 2015-16, when the province should be able to rebalance the books by sticking to a strict diet of spending less than it takes in, Duncan said.


Spending is expected to rise over the next two years before dropping by $2.8 billion in the 2011-12 fiscal year.


The government will also tighten its belt by freezing salaries for provincial politicians, cutting five per cent of jobs in the public service -- some by shifting workers to the federal payroll -- and finding $1 billion in "efficiencies" that haven't yet been identified.


Duncan insisted his controversial tax harmonization plan won't line provincial coffers at the expense of consumers, but opposition leaders were quick to label it a cash grab that would whack disheartened taxpayers in the wallets when they could least afford it.


The budget is "worthless" for people looking for hope in the midst of a painful recession, said interim Progressive Conservative Leader Bob Runciman.


Rather than put Ontario on the path to prosperity, it will saddle the province with the biggest debt in its history, he added.


"It means more taxes today on everything from gasoline to everyday services," he said.


"And it means more taxes tomorrow when we have to pay for (Premier) Dalton McGuinty's record deficit."


The last in a series of cheques to families earning less than $160,000 a year and singles making less than $80,000 a year will go out in June 2011, just a few months before voters head to the polls for an October election, critics said.


Families earning $160,000 or less will get up to $1,000 and singles earning $80,000 or less will get $300.


"The McGuinty government is trying to bribe them with their own money," said NDP Leader Andrea Horwath.


Ontario's real gross domestic product -- a barometer of economic health -- dropped by 0.4 per cent last year and is expected to fall 2.5 per cent in 2009.


The budget predicts the province will recover with 2.3 per cent growth in 2010 and 3.3 per cent in 2011.
machiavelli





Joined: 11 Feb 2007
Posts: 352
Reputation: 66.5
votes: 5

PostPosted: Thu Mar 26, 2009 4:31 pm    Post subject: Reply with quote

Comrades McGuinty and Duncan advanced their efforts to initiate the Socialist Republic of Ontario today with a massive, and at lest to some extent excessive, deficit spending.
Comrade Ducanís $56.8 billion, 7 year structural deficit also includes another busted promise by our disingenuous premier who once again couldnít defy his urges, and thus increased some sales taxes. Its obvious that this far-left, big time tax and spend government doesnít take its massive overspending or overtaxing seriously.

This massive long-lasting increase to our debt is nothing less than generational theft since our grandchildren and their grandchildren will spend their life paying off this ridiculous spending spree. Obviously, our grandchildren will not have a standard of living nearly as high as ours has been before this premier decided to destroy it.

The premier also established a new vehicle, the GST/PST government size escalating rebate program, to redistribute wealth from wealth creators to the welfare wealth consumers; this is what socialism is designed to achieve.
Rusty Bedsprings





Joined: 06 Dec 2008
Posts: 1629

votes: 5

PostPosted: Thu Mar 26, 2009 4:31 pm    Post subject: Reply with quote

Can someone tell me how business will profit from HST?
ezbeatz





Joined: 09 Oct 2008
Posts: 1140
Reputation: 49.5Reputation: 49.5Reputation: 49.5Reputation: 49.5Reputation: 49.5
votes: 10
Location: Vaughan, ON

PostPosted: Thu Mar 26, 2009 4:35 pm    Post subject: Reply with quote

Rusty Bedsprings wrote:
Can someone tell me how business will profit from HST?


The PST taxes capital. The HST doesn't. So if a company is buying a truck, they have to pay PST on it but not if there is HST. It basically shifts the taxes burden from the businesses to the middle class. Not a good election policy.
DavidK





Joined: 22 Nov 2008
Posts: 1520
Reputation: 68.5
votes: 5
Location: Ontario

PostPosted: Thu Mar 26, 2009 4:59 pm    Post subject: Reply with quote

ezbeatz wrote:
Rusty Bedsprings wrote:
Can someone tell me how business will profit from HST?


The PST taxes capital. The HST doesn't. So if a company is buying a truck, they have to pay PST on it but not if there is HST. It basically shifts the taxes burden from the businesses to the middle class. Not a good election policy.


lets hope the voters don't forget! in fact, i say we don't let them!
Cool Blue





Joined: 21 Sep 2006
Posts: 3130
Reputation: 114.9
votes: 10
Location: Ontario

PostPosted: Thu Mar 26, 2009 7:02 pm    Post subject: Reply with quote

Quote:
Can someone tell me how business will profit from HST?



When a business collects GST from customers and remits it to the federal government they get to deduct the amount of GST they paid out for that remittance period.

For example, If I collected $1000 in GST and paid $500 during my period, that means I only have to remit $500.

If a business pays out more GST than it collects, it will actually get a refund.

An HST would operate in the same way.

The PST though does not operate this way. If I pay $500 in PST and collect $1000 I have to remit the whole $1000.
Rusty Bedsprings





Joined: 06 Dec 2008
Posts: 1629

votes: 5

PostPosted: Thu Mar 26, 2009 7:29 pm    Post subject: Reply with quote

Cool blue and ezbeats: I see.
cosmostein





Joined: 04 Oct 2006
Posts: 7528
Reputation: 301.2Reputation: 301.2
votes: 21
Location: The World

PostPosted: Fri Mar 27, 2009 12:45 pm    Post subject: Reply with quote

No one can ever call my opinion "non-partisan", I am a Conservative and proud of it.

I have got on the case of the Ontario Liberals for various items that at the end of the day were more political then functional just for the sake of slamming the Liberals,

However, as a citizen of Ontario, as a taxpayer of Ontario, all I can say after I pick my jaw up of the floor from utter shock is that this is a budget that throws every taxpayer under the bus of the Liberal Party of Ontario.

Why were we not cutting corporate taxes in 2007? We all saw this coming and the Government of Ontario moved forward with social engineering rather then proper action.

Offering "Training" to the unemployed so they could expand their skills in fields where jobs where vanishing rather then giving business a reason to stay.

Now in a David Miller-esk panic move the Ontario Government has opted to pass one of the largest tax increases on Ontario families that I can remember to make up for an utter and total mismanagement of the provinces economy.

I am watching governments across the world scold million dollar salaries of CEO's and bonuses to top performers in companies that are in financial trouble, and I watch the masses slam CAW's offer of a "pay freeze" and call for the heads of CEO's who only took 50% pay cuts last year,

And then I see the generous offer of the Government to implement a "pay freeze" on the the very people who's inaction on the economies got us to where we are.

If a CEO came forward with this sort of year end type of reporting they would be forced to resign, and in a worst case be named in a class action suit by shareholder,

But Dalton is content with a pay freeze...
SFrank85





Joined: 03 Mar 2007
Posts: 2269
Reputation: 59.8
votes: 4
Location: Toronto - Scarborough Southwest

PostPosted: Fri Mar 27, 2009 3:56 pm    Post subject: Reply with quote

I suggest we all move to Saskatchewan on mass!
Luke Nicholson





Joined: 05 Jan 2009
Posts: 207
Reputation: 31.1Reputation: 31.1Reputation: 31.1
Location: Saskatoon, SK.

PostPosted: Fri Mar 27, 2009 6:24 pm    Post subject: Reply with quote

I'm fine with that. :D
crazymamma





Joined: 18 Aug 2007
Posts: 1011
Reputation: 71.8
votes: 14
Location: The kitchen

PostPosted: Fri Mar 27, 2009 8:29 pm    Post subject: Reply with quote

Listening to the radio tonight and one woman was soooo annoyed with the blended tax and how much more it was going to cost her a year, she figured about 8 to 9 hundred dollars a year, that she is going to donate her mitigation cheques from Dolton to the Provincial Conservative party.

What an excellent Idea!!!!!! Several other callers have agreed with this stroke of brilliance.Now if we can only keep the outrage and get someone to set an organized/dedicated web page/site. It could be called something like Harmonize this Dalton.... :D
SFrank85





Joined: 03 Mar 2007
Posts: 2269
Reputation: 59.8
votes: 4
Location: Toronto - Scarborough Southwest

PostPosted: Fri Mar 27, 2009 9:31 pm    Post subject: Reply with quote

crazymamma wrote:
Listening to the radio tonight and one woman was soooo annoyed with the blended tax and how much more it was going to cost her a year, she figured about 8 to 9 hundred dollars a year, that she is going to donate her mitigation cheques from Dolton to the Provincial Conservative party.

What an excellent Idea!!!!!! Several other callers have agreed with this stroke of brilliance.Now if we can only keep the outrage and get someone to set an organized/dedicated web page/site. It could be called something like Harmonize this Dalton.... :D


With that sort of talk, McGuinty would very well cancel the cheques.
eveable





Joined: 03 Jul 2008
Posts: 206
Reputation: 99.4Reputation: 99.4

PostPosted: Sat Mar 28, 2009 10:45 pm    Post subject: Reply with quote

I can't believe Dalton did this. He was talking about a 10.5% HST. At the last minute he couldn't bring himself to lower the PST? This could have been done without costing consumers. The budget could have exempted PST from capital purchases by buisnesses or it could have hamonized the two taxes without adding PST to items that were PST exempt. Or he could have lowered the PST. Nope. Did none of the above. This is a tax grab and the Liberal party in Ontario is finished.
mach9





Joined: 09 Apr 2009
Posts: 1


PostPosted: Thu Apr 09, 2009 3:49 pm    Post subject: The media has been given false information. Reply with quote

Ont. Liberal Government has been using the Chamber of Commerce help to spread this lie.
In Ontario all business that buy and re-sell products or manufacturing companies that produce products plus a host of other exemptions are now already PST free.
Business in Ontario is alreay set up PST FREE EXEMPT and all that a supplier requires is a blanket PST Exempt Form. Then business can buy PST Free before the raw materials reach the factory or outlet etc.
Now... The way HST works is that a business must pay the combined HST tax up front then later fill out piles of paperwork to try and claim it back on a monthly or quarterly basis. Thus creating more work for the business and putting far more control in the Feds hands on what we do in Ontario. Fed Government will have the control in place to be more restrictive in the future with rules (hoops) on what business can claim as tax free.

The exisiting PST exemption is outlined very clearly on the PST RST act Guide #400
Here is the link.
http://www.rev.gov.on.ca/engli.....t/400.html

Don't Fall For Dalton's Lies.
Business will not pass on any tax savings in the future.
They are mostly PST free already!!!
Mac





Joined: 02 Sep 2006
Posts: 5500
Reputation: 104
votes: 35
Location: John Baird's riding...

PostPosted: Thu Apr 09, 2009 9:16 pm    Post subject: Reply with quote

Let's hope the next leader of the PCPO is more effective than John Tory... although it would be hard to him or her to be less effective...

-Mac
Post new topic   Reply to topic Page 1 of 2

Goto page 1, 2  Next  


 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You cannot attach files in this forum
You cannot download files in this forum


2009 Ontario Budget

phpBBCopyright 2001, 2005 phpBB