Each year, when RRSP season rolls around, we are reminded that we must pay income tax and that, when all our taxes are combined, Canadians are among the most highly taxed people in the industrialized world. However, this year's RRSP campaign is a little different, since it is being played out against a backdrop of budget surpluses exceeding all expectations. One question that is bound to come up is whether this surplus proves we are, indeed, overtaxed.
Last September, Finance Minister Paul Martin surprised everyone when he announced the 1999-2000 surplus weighed in at $12.3 billion instead of the $3 billion anticipated - a discrepancy resulting from economic forecasts and …
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