Quote:
Originally Posted by OldDartmouthMark
This information is collected by the CRA at tax time. Is there a precedent whereby a city in Canada collects income information?
Also, would not personal wealth be included? Assets, investments, etc? There are people who have wealth that are able to work the numbers to indicate a smaller net income that isn’t an indication of how wealthy they are? Do they deserve breaks on their property tax?
I’m just asking practical questions on how you would make it fair, yet efficient in the real world of city politics. I also don’t think that rich people should get tax breaks (even though practically it happens in all areas of taxation, not just property tax).
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The details would be up for debate but it's doable and is done.
Here in BC some municipal plans like homeowner rebates and senior property tax deferral are administered provincially. I think the province might pay the cost as well. I think deferral is another example of an improvement over the system NS has. I would also suggest creating a system where if you need relief you must apply., administered by the province, and then whatever disclosure is deemed necessary would be included in that. You wouldn't have to apply or disclose.
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