31. March 2010 by Dan Walkow, CFA, CMT.

Investors who are under the illusion that all is well in Canada in regards to provincial finances may want to think twice.

Ontario leads the defict parade in Canada and for an interesting comparision between Ontario, Canada and California check it out here.

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31. March 2010 by Dan Walkow, CFA, CMT.

Hiking taxes and raising fees are not exclusive to most States in the USA; Canadian provinces are faced with growing deficits and tax hikes are front and center both on the consumption and income sides of the ledger.

The squeeze also continues on the the service and government spending side where services and budgets are being slashed to narrow the budget margin.

Expect more, alot more. Deficit reduction is going to be a multi-year process and we are only beginning to  see federal governments both in the USA and Canada implement larger tax grabs. Mindful of the early stages of the economic recovery most governments are introducing tax hikes in bite size chucks but as things improve its going to accelerate.

One wants to revisit your tax planning strategy and prepare accordingly.

See the recent article at the Financial Post on provincial tax hikes here.

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