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Author Question: Interest earnings from accumulated savings are subject to personal income tax in Canada. As a result, (Read 142 times)

campbellfam07

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Interest earnings from accumulated savings are subject to personal income tax in Canada. As a result,
◦ the interest paid on savings accounts increases.
◦ total national saving is higher than it otherwise would be.
◦ there will be more capital accumulated for the economy.
◦ taxes applied to this income are regressive.
◦ individuals have a reduced incentive to save.


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Marked as best answer by campbellfam07 on Oct 12, 2022

ElaneShive

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campbellfam07

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Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)


tanna.moeller

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Reply 3 on: Yesterday
Wow, this really help

 

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