The following is a statement from Leader of the Official Opposition Patrick Brown regarding his Private Member’s Bill, the Estate Administration Tax Abolition Act:
“By voting down my PMB proposing the elimination of the Estate Administration Tax, the Liberal Government has refused to provide some much-needed tax relief for Ontarians.
When this tax was passed into law almost 20 years ago, Ontarians did not bear the same tax burden as they do today – there was no health tax, no eco fees, and no potential expansion of the land transfer tax for homebuyers. And on top of all of that, hydro costs were a lot more affordable. Liberal taxes and fees add thousands of dollars to the cost of living in Ontario every year.
In addition, Ontario has the highest graduated death tax of any province and territory in Canada. An estate in Ontario valued at $500,000 would pay $7,250 in tax; whereas that same estate would pay $65 in Quebec, $400 in Alberta, $2,500 in New Brunswick and $3,500 in Saskatchewan. This amounts to nothing more than a tax on a lifetime of hard work.
My PMB acknowledged that people pay more than enough taxes during their lifetime. Unfortunately, it’s becoming obvious that the Liberal Government needs to increase taxes in order to pay for Liberal scandal, waste and mismanagement. Today the Wynne Liberals voted to continue taxing Ontarians to death, at death, and after death.”