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Did Tax Flattening Affect RRSP Contributions?

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  • Michael R. Veall

Abstract

In 1988, marginal personal income tax rates changed in Canada, for some individuals by reasonably substantial amounts. This note examines a large sample of tax-filer data and finds little convincing evidence of any effect on contributions to Registered Retirement Saving Plans (RRSPs).

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File URL: http://socserv.socsci.mcmaster.ca/econ/rsrch/papers/archive/99-04.pdf
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Bibliographic Info

Paper provided by McMaster University in its series Department of Economics Working Papers with number 1999-04.

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Length: 15 pages
Date of creation: Apr 1999
Date of revision:
Handle: RePEc:mcm:deptwp:1999-04

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  1. John Burbidge & Deborah Fretz & Michael R. Veall, 1997. "The Effect of RRSPs on Savings in Canada," Independence and Economic Security of the Older Population Research Papers, McMaster University 14, McMaster University.
  2. James M. Poterba & Steven F. Venti & David A. Wise, 1996. "How Retirement Saving Programs Increase Saving," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 10(4), pages 91-112, Fall.
  3. Thaler, Richard H, 1994. "Psychology and Savings Policies," American Economic Review, American Economic Association, American Economic Association, vol. 84(2), pages 186-92, May.
  4. Kenneth R. French & James M. Poterba, 1991. "Investor Diversification and International Equity Markets," NBER Working Papers 3609, National Bureau of Economic Research, Inc.
  5. Carroll, Chris & Summers, Lawrence H., 1987. "Why have private savings rates in the United States and Canada diverged?," Journal of Monetary Economics, Elsevier, Elsevier, vol. 20(2), pages 249-279, September.
  6. John Burbidge & Deborah Fretz & Michael R. Veall, 1998. "Canadian and American Saving Rates and the Role of RRSPs," Canadian Public Policy, University of Toronto Press, University of Toronto Press, vol. 24(2), pages 259-263, June.
  7. Eric M. Engen & William G. Gale & John Karl Scholz, 1996. "The Illusory Effects of Saving Incentives on Saving," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 10(4), pages 113-138, Fall.
  8. Thaler, Richard H, 1990. "Saving, Fungibility, and Mental Accounts," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 4(1), pages 193-205, Winter.
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Cited by:
  1. Håkan Selin, 2012. "Marginal Tax Rates and Tax‐Favoured Pension Savings of the Self‐Employed: Evidence from Sweden," Scandinavian Journal of Economics, Wiley Blackwell, Wiley Blackwell, vol. 114(1), pages 79-100, 03.
  2. Mary-Anne Sillamaa & Michael R. Veall, 2000. "The Effect of Marginal Tax Rates on Taxable Income: A Panel Study of the 1988 Tax Flattening in Canada," Quantitative Studies in Economics and Population Research Reports, McMaster University 354, McMaster University.
  3. Kevin Milligan, 2000. "How Do Contribution Limits Affect Contributions to Tax-Preferred Savings Accounts?," Social and Economic Dimensions of an Aging Population Research Papers, McMaster University 27, McMaster University.
  4. Juan Ayuso & Juan F. Jimeno & Ernesto Villanueva, 2007. "The effects of the introduction of tax incentives on retirement savings," Banco de Espa�a Working Papers, Banco de Espa�a 0724, Banco de Espa�a.
  5. Gary V. Engelhardt & Brigitte C. Madrian, 2004. "Employee Stock Purchase Plans," NBER Working Papers 10421, National Bureau of Economic Research, Inc.
  6. Sule Alan & Kadir Atalay & Thomas F. Crossley & Sung-Hee Jeon, 2009. "New Evidence on Taxes and Portfolio Choice," Social and Economic Dimensions of an Aging Population Research Papers, McMaster University 245, McMaster University.
  7. Michael R. Veall, 2006. "The Top Shares of Older Earners in Canada," Social and Economic Dimensions of an Aging Population Research Papers, McMaster University 156, McMaster University.
  8. Veall, Michael R., 2013. "Estimating the Number of Guaranteed Income Supplement Recipients Who Have Mistakenly Saved in Registered Retirement Savings Plans and Registered Pension Plans," CLSSRN working papers, Vancouver School of Economics clsrn_admin-2013-26, Vancouver School of Economics, revised 29 Apr 2013.

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