Taxation

Taxation of Individuals

At The Restoration Party of Canada, we believe in a fair and responsible approach to taxation that allows our citizens to thrive while supporting the essential functions of our government. Our taxation policy is designed to strike a balance between fiscal responsibility and individual financial freedom.

Our Taxation Philosophy

Our taxation philosophy is centered on the principles of fairness, simplicity, and transparency. We believe that taxation should be structured to ensure that all Canadians contribute their fair share while preserving economic freedom and personal choice.

Proportional or Flat Tax System

We propose a proportional or flat tax system for individuals, where all Canadians are taxed based on a consistent percentage of their net income. This approach ensures that everyone pays the same proportion of their income in taxes, regardless of their income level.

Income Tax: Our proposed income tax rate for individuals is 15%. This rate applies to all workers, regardless of their income. Higher earners will pay a higher dollar amount in taxes, but the tax rate remains the same proportion of their income as lower-income individuals.

Sales Tax: We advocate for a flat sales tax rate of 5% on all purchases, ensuring that every citizen pays the same dollar value in taxes on their purchases.

Property Tax: Our property tax system will levy a tax of 1.5% of the property's value from the latest appraisal. This tax is solely based on the property's value and is not influenced by the owner's income.

No Excise/Sin Tax

Unlike the current system, we will eliminate excise/sin taxes on products such as alcohol and cigarettes. We believe that consumers should have the freedom to make their own purchasing choices without being penalized through additional taxes. While we will continue to provide information about products with known negative effects, it is ultimately the consumer's decision to make.

Maximizing Your Paycheck

Our commitment to a proportional tax system ensures that all Canadians keep more of their hard-earned money in their pockets. Lower taxes allow individuals to make choices that best suit their financial needs and aspirations. We believe that the more money Canadians keep, the more our economy thrives.

Your Financial Freedom Matters

At The Restoration Party of Canada, we respect your financial freedom and personal choices. Our taxation policy is designed to promote economic growth, individual prosperity, and a stronger Canada for all. We believe that by reducing the tax burden on individuals and simplifying the tax system, we can build a brighter future for our nation.

Join us in our mission to create a taxation system that works for you, one that is fair, straightforward, and supportive of your financial goals.

Together, we can foster a thriving economy where Canadians can enjoy the benefits of their hard work and individual freedom.