Tuesday, March 29, 2011

Income Splitting

 I like the idea of income splitting. It wouldn't help me at all , I am a single man. I would prefer a flat tax and then everyone would get tax relief, but all measures to reduce taxes are a good idea. My friend Sara at Choice For Childcare like the idea and I respect her opinion. I am glad that the Tories will only implement such a promise after our fiscal house is in order. The iffy bq dipper coalition is willing to spend a lot mre now. They want to buy your votes with new social programs, while the Tories want to cut your taxes. I prefer lower taxes!

SAANICH, B.C. — The Conservatives will allow Canadian families with children under 18 to split up to $50,000 of their income annually to lower their taxes, Prime Minister Stephen Harper announced Monday.

The tax-saving measure, the first of the Tories’ new promises in this election, was made by Harper on the third day of the campaign.

The initiative would cost the federal treasury $2.5-billion annually, but won’t take effect until the federal government balances its books — which now isn’t expected to take effect until 2015-16, perhaps a year earlier if the Tories are able to cut program costs throughout the government.Harper said the new “Family Tax Cut” will apply to parents with children under 18 and will provide “significant tax relief” to nearly 1.8 million Canadian families who will save an average of $1,300 per year.


Carol Schmidt said...
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Sara Landriault said...

A stay at home mom goes to the bank with her spouse (who has paid job) and signs up for a mortgage. The bank looks at the spouse and says "is your wife allowed on the mortgage?". Income Splitting would prevent that from happening again.

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