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Dark Knight / Le Chevalier Noir
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Gary, don't you mean you remember PMs right back to Sir John A. Macdonald?
I think that Jonathon is right; this is probably the first time in Canadian history that chess is mentioned in a budget; isn't that great!
Naw. Sir John A. goes back too far for me.
I don't read budgets close enough to know for sure but Jonathan has probably spent more time than I have keeping up on those type of statistics. (I'm kidding you, Jon.)
I notice it now has the same status as music lessons and so it should. I take it that's a tax credit which only allows a percentage of the amount to be written off against tax payable. So it likely benefits those in the higher tax brackets more than those in the lower brackets. When they start allowing a deduction for chess there has to be an angle somewhere.
Last edited by Gary Ruben; Wednesday, 23rd March, 2011, 03:38 PM.
I don't read budgets close enough to know for sure but Jonathan has probably spent more time than I have keeping up on those type of statistics. (I'm kidding you, Jon.)
I notice it now has the same status as music lessons and so it should. I take it that's a tax credit which only allows a percentage of the amount to be written off against tax payable. So it likely benefits those in the higher tax brackets more than those in the lower brackets. When they start allowing a deduction for chess there has to be an angle somewhere.
by the way Gary, its proposed as a set 15% non-fundable tax credit so it benefits everyone evenly, no matter the tax bracket
by the way Gary, its proposed as a set 15% non-fundable tax credit so it benefits everyone evenly, no matter the tax bracket
What's the limit to which you can apply the tax credit? Is it something like a maximum of $500. so the most anyone can get back is 75 dollars. So if a person pays say 30 dollars a week for chess lessons for the child, which would be roughly 1,500.00 a year for chess lessons the maximum tax credit would still be 75 dollars?
Wasn't there something with energy not that long ago which confused people into thinking they would get a tax deduction for the amount and they only got a tax credit?
Recent political events will probably result in my staying home election day.
Poor Gary, unable to find an alternative party with which to park his vote. Luckily, the powers that be are keeping an eye on Gary, so the real results, viewed only by those in the know, will look like this:
Both -- 32768
Trudeau, Gustave CON -- 16384
Watching the hockey playoffs on TV -- 8192
Jessel, Georgina LIB -- 4096
Unconscious -- 2048
St. Laurent, Louise XIX NDP -- 1024
Calhoun, Hays NLP -- 512
Darwin, Charlotte CHP -- 256
...
Ruben, Gary COC -- 1
The bottom line party denomination is short for "COncerned Citizen", of course.
Grins all around.
Poor Gary, unable to find an alternative party with which to park his vote. Luckily, the powers that be are keeping an eye on Gary, so the real results, viewed only by those in the know, will look like this:
Both -- 32768
Trudeau, Gustave CON -- 16384
Watching the hockey playoffs on TV -- 8192
Jessel, Georgina LIB -- 4096
Unconscious -- 2048
St. Laurent, Louise XIX NDP -- 1024
Calhoun, Hays NLP -- 512
Darwin, Charlotte CHP -- 256
...
Ruben, Gary COC -- 1
The bottom line party denomination is short for "COncerned Citizen", of course.
Grins all around.
Actually, I was just reading the political parties consider voters like me, Seniors, important to their success because we are reliable and more likely to vote. Front page stuff in my Globe and Mail. Capture the Senior Vote. This election will be about getting little old ME to the polls.
I don't even have to burn gasoline getting to the polls. They always offer to pick me up and drive me both ways.
One politician once commented the cemetaries in Quebec were empty. They were all out voting. :)
I remember some years ago when someone from one of the political parites came to the door canvassing for the incumbent. I said I wouldn't vote for him. She told me to vote for the NDP, so I did. Well, they must have been telling a lot of people that because Bob Rae and his NDP won the election. That was corrected some 5 years later.
Bob Rae's main promise was to bring in public auto insurance. Like they have in Manitoba, I suppose. It didn't happen. Too much work, I guess.
Objectively, Bob Rae had the government in bad times. His first year was rocky as far as I could see. After that it wasn't much different from other administrations. Anyhow, he lost his supporters and is now on the federal scene as a Liberal. Maybe one day he'll be a conservative. :)
By the way, it's not nice to joke about Uncle Louie. They loved him in Quebec. :)
Bob Rae's main promise was to bring in public auto insurance. Like they have in Manitoba, I suppose. It didn't happen. Too much work, I guess.
For better or worse--mostly for better, I think--ICBC is an acronym that all of us in BC recognize. Thank you, Dave Barrett. Since the other guy later became a Liberal, it could be argued that he didn't bring in public auto insurance because he was too far right. But not, I'm sure, because of a personality disorder.
In a way, it's too bad that the ethics of the Bloc Québécois preclude them from running candidates outside Québec. If they ran in all ridings, not only would they get a better kickback from the public purse, but they would be an effective (though ambiguous) parking place for the votes of the disaffected.
By the way, it's not nice to joke about Uncle Louie. They loved him in Quebec.
No ill will intended. Every line was a joke.
If the forces of moderate to left want to grab power this decade, they'll need to not run in certain strategic ridings where the other guy has a good chance to unseat the ruling party. Thus the Bloc would become a national party, and the LIBs and NDPs would cease to be so. Motto: Cleft to unbereft the Left. Irony: I love it.
Last edited by Jonathan Berry; Thursday, 24th March, 2011, 02:49 PM.
Reason: I hate how easily a reply or edit is lost here. Ctrl-A, Ctrl-C forever!
What's the limit to which you can apply the tax credit? Is it something like a maximum of $500. so the most anyone can get back is 75 dollars. So if a person pays say 30 dollars a week for chess lessons for the child, which would be roughly 1,500.00 a year for chess lessons the maximum tax credit would still be 75 dollars?
Wasn't there something with energy not that long ago which confused people into thinking they would get a tax deduction for the amount and they only got a tax credit?
yes but $75 for everyone regardless of income bracket
which by the way is equivalent to a deduction of $500, with the caveat that the resulting saving is only in the 15% tax bracket rate
in other words if I deducted $500 from my taxable income, and was in the 15% lowest tax bracket, I would have $75 less owing for taxes, which either reduces my tax bill or gives me a bigger refund
if they did make it a deduction then those at the higher tax brackets would benefit more
Last edited by Zeljko Kitich; Friday, 25th March, 2011, 07:56 AM.
If you're raising a family, and are in the 15% tax bracket chances are you can't afford $500. for chess. With no taxable income, the tax credit is not refundable so there would be no benefit.
If you're raising a family, and are in the 15% tax bracket chances are you can't afford $500. for chess. With no taxable income, the tax credit is not refundable so there would be no benefit.
tax brackets are incremental, at some point almost everyone is paying tax in the 15% bracket, otherwise they pay no tax at all
yes as usual the very poor don't benefit from these types of programs, but if they are on Ontario Works they are getting tax free money anyways
in other words if I deducted $500 from my taxable income, and was in the 15% lowest tax bracket, I would have $75 less owing for taxes, which either reduces my tax bill or gives me a bigger refund
We don't have to wonder about it now. I expect a new budget after the election with lots of goodies for seniors. The only question will be which political party will be delivering, or not, on the promises to come.
I would seriously consider voting for any of the major parties which promised to bring home the troops. The conservatives are a bit too hawkish for me.
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