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Philip Bazel
University of Calgary
BusinessGovernmentIncome taxCorporate taxTax reform
14Publications
2H-index
16Citations
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Publications 14
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#1Philip Bazel (U of C: University of Calgary)H-Index: 2
#2Jack M. Mintz (CES: Center for Economic Studies)H-Index: 25
Over two decades, Canada gradually made its tax regime highly competitive by lowering its federal-provincial corporate income tax rate and working to improve tax neutrality and broaden its corporate tax base. That has changed. Today, Canada’s tax-policy emphasis seems to be on raising revenues while providing special breaks for politically favoured business activities. Unfortunately, that change in direction means that the government is now driving away its hard-earned corporate tax base, rath...
#1Philip BazelH-Index: 2
#2Jack M. MintzH-Index: 25
When it comes to corporate tax policy, Alberta is taking a different path than the federal government and other provinces. Alberta’s May 28th Job Creation Tax Cut will reduce the provincial corporate income tax rate from 12% to 8% in lieu of introducing accelerated depreciation that was adopted by federal government November 20182 , including a 100% write-off for clean energy and manufacturing.
#1Philip Bazel (U of C: University of Calgary)H-Index: 2
#2Jack M. Mintz (U of C: University of Calgary)H-Index: 25
The authors examine the implications of Canada's response to the 2017 US tax reform. Canada's focus on accelerated tax depreciation will achieve lower marginal effective tax rates on capital for taxpaying companies, well below the US levels achieved with the Tax Cuts and Jobs Act that came into effect on January 1, 2018. By ignoring neutrality, the government offsets some of the potential gains by reducing the tax burden on capital, thereby failing to maximize efficiency gains from a better corp...
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#1Philip BazelH-Index: 2
#2Jack M. MintzH-Index: 25
Following the 2017 overhaul of the U.S. corporate and personal tax system, 2018 has seen much discussion regarding Canada’s diminished tax advantage and its attractiveness as an investment destination in comparison to the U.S. In the November 21st 2018 Economic Update, the federal government’s response was finally unveiled. The central policy included a generous temporary accelerated capital cost allowance. This strategy largely follows a plan of action championed by the Canadian business commun...
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#1Philip BazelH-Index: 2
#2Jack M. MintzH-Index: 25
Following a recent major overhaul of the U.S. corporate and personal tax system, there has been much concern expressed regarding Canada’s diminished tax advantage and its attractiveness as an investment destination in comparison to the U.S. Among the proposed tax policy responses, some in the business community have called for Canada to adopt accelerated deprecation for machinery, a central component of the U.S. corporate tax reform. The U.S. tax reform, known as the Tax Cuts and Jobs Act center...
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#1Philip Bazel (U of C: University of Calgary)H-Index: 2
#2Daria Crisan (U of C: University of Calgary)H-Index: 1
Last. Bev Dahlby (U of C: University of Calgary)H-Index: 18
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William Lyon Mackenzie King, Canada’s 10th Prime Minister, used to say “Today’s promises are tomorrow’s taxes”. A more up-to-date version would be “Today’s deficits are tomorrow’s taxes.” Alberta’s governments began running deficits in 2008-09 and the NDP government only plans to balance the provincial budget in five years’ time. By then, Alberta’s public debt will have risen to about 90 billion with annual interest payments of .8 billion in 2023-24.1 Who will pay the taxes to pay the interes...
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#1Philip BazelH-Index: 2
#2Jack M. Mintz (U of C: University of Calgary)H-Index: 25
Last. Austin ThompsonH-Index: 1
view all 3 authors...
Canada stands to lose a major competitive edge unless it responds to the challenges of the 2018 U.S. tax reforms by instituting reforms of its own. At 20.9 per cent, Canada’s tax burden on new investment (measured by the marginal effective tax rate or METR), is competitive when compared to countries in the Americas and Asia-Oceania, and it’s the second lowest among the G7 countries. However, the rules of the game are about to change with U.S. tax reform. Among the reforms the U.S. is bringing in...
2 CitationsSource
#1Philip Bazel (U of C: University of Calgary)H-Index: 2
#2Jack M. Mintz (U of C: University of Calgary)H-Index: 25
In the past two weeks, Senate and House Republicans have put forward parallel mark-up bills in a step toward reform of the U.S. personal and corporate tax systems. The respective bills titled, “TAX CUTS AND JOBS ACT” (TCJA) are based on previous proposals put forward by Congressional Republicans, most notably their recent “UNIFIED FRAMEWORK FOR FIXING OUR BROKEN TAX CODE” released in September.
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#1Philip Bazel (U of C: University of Calgary)H-Index: 2
#2Jack M. Mintz (U of C: University of Calgary)H-Index: 25
REPUBLICANS REVEAL PROPOSED TAX OVERHAUL The White House and Congressional Republicans have revealed their much-anticipated proposal for reform of the U.S. personal and corporate tax systems. The proposal titled, “UNIFIED FRAMEWORK FOR FIXING OUR BROKEN TAX CODE” outlines a number of central policy changes, which will significantly alter the U.S. corporate tax system. The proposal includes a top federal marginal rate reduction for the sole proprietorships, partnerships and S corporation—small bu...
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#1Philip Bazel (U of C: University of Calgary)H-Index: 2
#2Jack M. Mintz (U of C: University of Calgary)H-Index: 25
It can be easy for Canadians who appreciate the qualities of their country to overestimate the power that it also has to lure investment in a world where so many other destinations are competing for capital. Canadians can take pride in our political stability and our highly educated workforce, and we do have good communication and transportation infrastructure, but a great number of other countries offer those things, too, at roughly the same level. Meanwhile, Canada suffers in the eyes of inves...
2 CitationsSource
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