Saturday, August 12, 2006

Reducing the Basic Personal Amount

Below are some more results from my project. The policy this analysis simulates is the reduction of Basic Personal Amount by $400 (from $9192.20 to $8792.20). Also, cutting the spouse & wholly dependent amount by $340 is included as well (from $7805.07 to $ 7465.07).

Again, simulations are performed by the SPSD/M (Version 14.1).

Total

Increase in

Average

Increase in

Average

Number

Income

Average

Total Tax

Average

Income Tax

of

Group

Total

Per Year

Income

Per Year

Households

Tax

Before Change

Tax

Before Change

In Canada

$ thousands

$

$

$

$

thousands

Min-10

4

1,919

4

155

418.2

10-20

14

2,389

15

195

1477.6

20-30

36

4,590

40

1,072

1506.9

30-40

63

7,636

70

2,600

1380.7

40-50

77

11,237

86

4,732

1265.7

50-60

86

14,968

96

7,079

1120.0

60-70

94

18,320

105

9,304

980.3

70-80

100

21,553

110

11,679

896.3

80-90

106

24,994

117

13,849

792.7

90-100

107

28,493

118

16,242

680.8

100-110

115

31,718

127

18,539

546.3

110-120

120

35,254

132

21,052

441.9

120-130

123

38,512

135

23,644

361.3

130-140

122

41,932

134

26,742

270.4

140-150

128

45,278

141

28,964

225.7

150-160

127

50,220

142

31,710

183.3

160-170

133

54,306

146

36,207

154.9

170-180

134

56,533

148

37,758

104.4

180-190

135

60,191

147

41,753

77.7

190-200

146

62,151

158

43,862

58.3

200-210

138

67,598

150

48,105

49.8

210-220

138

70,376

149

50,840

42.3

220-230

126

75,371

137

56,229

29.9

230-240

133

80,428

146

59,226

26.0

240-250

144

85,039

157

62,490

27.2

250-260

121

89,021

134

64,754

18.8

260-270

117

92,791

128

69,293

15.6

270-280

117

96,545

129

73,029

15.9

280-290

129

102,497

141

78,292

15.7

290-300

120

108,261

132

82,545

13.0

300-350

118

119,609

130

92,578

45.8

350-Max

114

289,159

124

244,873

108.6

All

78

21,496

87

12,737

13351.9

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