The Atlantica Party will make Nova Scotia the first province in Canada to adopt a flat tax as part of its program to make Nova Scotia a "have" province.
"If Nova Scotia is to survive, it must become a province that more people want to come to than leave," said Jonathan Dean, Leader of the Atlantica Party. "The Atlantica Party is focused on policies to achieve this goal, and a flat income tax would be a great benefit."
A flat tax is one tax rate for everyone with few if any deductions; it would reduce administrative expenses, make tax preparation much more straightforward, and save money for provincial taxpayers.
With a flat tax rate, the negative impact of people not seeking more income due to the larger share of their income the government would take would be gone. Therefore, a flat tax rate would strengthen incentives to establish small businesses, encourage entrepreneurship, and attract highly skilled workers, such as family doctors, from other provinces. Moreover, the current tax code is unfair as high-income earners have an incentive to hire tax experts to exploit the many loopholes. Lower-income earners do not have that luxury.
It is easy to understand, visible and fair.
"Another great advantage of a flat tax is that politicians can no longer raise revenue in hidden ways by manipulating the tax code," said Dean. "They would have to do it out in the open."
Under an Atlantica Party government, as the Nova Scotian economy improves, revenues increase and spending is controlled, it would be possible to lower the flat income tax rate over time. A preliminary calculation puts Nova Scotia's revenue-neutral flat tax rate at around 12%.
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The Atlantica Party was established in 2006 to promote a political revolution in Nova Scotia to fix our broken political system and empower the voter. It is the only political alternative committed to making Nova Scotia a "have" province.