QUEEN’S PARK – Today MPP Yurek rose in the legislature to question the Minister of Finance on the new “Estate Administration Tax.”
“Minister, the loss of a loved one is never easy. We all know that the time period after is extremely difficult for all Ontarians. The Estate Administration Tax underwent changes this year. These changes broaden the criteria of what will be affected, shortens the amount of time that is required to comply with the rules to 90 days and increases the penalties for misfiling by adding jail time of up to 2 years. Why is your government making it more difficult for Ontarians, by implementing these changes?”
The Minister struggled to answer the question but indicted that the changes to this tax are in place “to ensure integrity in our revenues and ensuring that everyone pays their appropriate share and their fair share.’
“It is clear that this government is scrambling to balance the budget by 2017-18. Expanding taxes after one dies and imposing strict time limits for filing does little for Ontarians. The government is demanding payment in a short order of time because they have little integrity or respect for taxpayers dollars” stated MPP Yurek. The end result is that people who are still in shock over the death of a loved one will be forced to try to pull information together in a very short period of time – or face significant penalties.
The changes to the Estate Administration Tax only allow for 90days for the Executor to file their Estate Information Return. The Ministry of Finance has put forth very serious consequences for those who don’t file within this time period including up to 2 years in jail.
“This government is making the lives of Ontarians more difficult during a time that is already very difficult. Under the leadership of this government the province’s deficit has continued to rise going from $9.2billion two years ago to $10.5 billion last year and $10.9billion this year. Ontarians are seeing drastic reductions in services and are being further burdened with taxes and more bureaucracy” stated Yurek
“I would hope that this government is not trying to find new ways to tax people even after their deaths.”
Video Attached: https://www.youtube.com/watch?v=laDXQg9iIUI
Whitney McWilliam | P: 226-448-6741 | E: email@example.com