Income taxes going up — and spending, too

CIM Bulletin, Vol. 82, No. 926, 1989

Robert B. Parsons, Partner, Price Waterhouse, Toronto

Once all the hullabaloo about Finance Minister Wilson's April 27 budget died down (or was it an April 26 budget?), the pain of the budget papers began to sink in. Individuals and corporations will have to dig deeper and pay more taxes — and government will continue to dig deeper and spend more. The irony of the situation is that higher tax rates actually make flow-through shares more attractive as a tax-deferral investment — a bittersweet "bravo" for the mining industry.