Report suggests federal tax cuts will be offset by provincial hikes

Report suggests federal tax cuts will be offset by provincial hikes

Report suggests federal tax cuts will be offset by provincial hikes The federal tax cuts will leave less money in your pocket than you may have been expecting according to a BMO report. The bank’s economist Robert Kavcic says that about three-quarters of the tax cuts that Ottawa has announced will be swallowed up by increases in a number of provinces including Alberta, BC, Saskatchewan and Quebec. New Brunswick announces its budget Tuesday with Ontario and Atlantic Canada to come; austerity is likely to be a feature of all.