We are an independent non-profit devoted to helping people and policymakers understand the tax system. Through research, public education and collaboration, our goal is to advance a tax system that promotes economic growth, shared prosperity and tax fairness.
Canada’s beloved First Home Savings Account has lost the plot. Maybe it’s time to rethink it
It’s tax time, and financial advisers are out in full force, pitching their latest and greatest services to lower your tax bill.And mentions of the First Home Savings Accounts are everywhere — billboards, Instagram feeds, even in your bank apps.
Broken Links: Poverty and the Limits of the Disability Tax Credit — Snapshot by Canadian Tax Observatory CEO Heather Scoffield
More than a quarter of Canada’s working age population has a disability of some kind and poverty among people with disabilities is pervasive—despite multiple layers of government programs and supports.
Biggest First Home Savings Account beneficiaries are high-income Canadians who would likely have bought a home anyway: new report
Our new research shows that one of Canada’s most popular tax incentives for home ownership is turning into a program that benefits those who need it least. And it risks undermining the very policy goals it was meant to solve.
Broken Links
Only 16 per cent of people with disabilities qualify for the Disability Tax Credit and the access that certification brings to other, crucial programs. New research from Dr. Gillian Petit identifies four different links in the system that a person with a disability must steer through to access proper income security and support.
Shelter vs. Tax Shelter
Research examining the impact of housing tax incentives—particularly the FHSA—on Canadian affordability. As more savings from affluent families flow into tax-sheltered accounts, there’s a cost to everyone else.
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