Panel recommendation for transit funding in GTHA...
http://transitpanel.ca/uploads/Final%20p...20Consequences%20Executive%20Summary.pdf
One option for the proposed revenue stream includes:
• Gasoline and Fuel Taxes: phased increase commencing with 3 cents per litre and adding 1 cent per litre per year up to 10 cents per litre
• Corporate Income Tax: modest increase of 0.5 per cent to the general rate
• Provincial Portion of Harmonized Sales Tax: redeployment of the GTHA portion of the provincial part of the HST charged on gasoline and fuel taxes
An alternative option caps the increase in gasoline and fuel taxes at 5 cents and is instead followed by a 0.5 per cent increase to the HST. The other two revenue sources are the same.
when fully implemented, will provide between $1.7 and $1.8 billion annually for transit in the GTHA