Wednesday, December 28, 2016

TAX ON TAX: Carbon tax will send tens of millions to Ottawa

Below is an estimate of amount of GST that will flow to Ottawa from B.C. and Alberta. It is based on Stats Canada sales of fuel in 2014 and the estimated Alberta Carbon Tax on Jan1, 2018. The total carbon tax (on Gas and diesel only) is then charged the 5% GST and this will leave the province despite the assurances of our Prime Minister :
"Whatever model a province chooses, Trudeau said, it will be revenue neutral for the federal government, with any revenues generated under the system staying in the province or territory where they are generated."

This is an estimate for Gas and Diesel only and does not estimate the amount from the tax on Natural gas or Propane for heating of our houses, factories. 
British Columbia:
Since 2008 (July 1) GST has been applied to the Carbon Tax in B.C. The latest 2016/17 estimate of carbon Tax Revenue is 1.271 Billion.  GST on this amount will be $63.55 million.


Total Estimated Carbon Tax Revenue Recycling 2008-2015
  • Carbon tax revenue: $7.3 billion
  • Offsetting tax reductions: $8.9 billion
  • Net benefit to taxpayers: $1.6 billion 
  • 1.0  (m³) natural Gas  equals

    0.0373 Gigajoules (GJ)
    5.70¢ per cubic metre or $1.4898 per gigajoule

BC Carbon Tax 2017

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