Canada’s top-end personal income tax rates are too high and they must come down, but there are many other tools that governments have to tax you in ways that chip away at your ability to minimize taxation. For example, eliminating indexation on personal credits and/or tax rate brackets — as some provinces have historically done — is an easy and effective way to increase tax revenues and taxation burdens on people since inflation continues to increase, but your ability to shelter taxation from such increases does not when indexation is suspended…

Read the full Financial Post article here.