Tuesday, October 25, 2005

CTF plan for federal tax relief

Ottawa: The Canadian Taxpayers Federation (CTF) appeared this morning before the House of Commons Standing Committee on Finance. Federal Director John Williamson presented the central pre-budget recommendations from the CTF’s submission, A Return to Fiscal Responsibility, for the 2006/07 federal budget. The CTF’s agenda items include:

Reducing the top two personal income tax rates by 3%, phased-in over three years, from 29% to 26% and 26% to 23%;

Increasing both the Basic Personal Exemption and Spousal Exemption to $15,000 within four years to provide tax relief for all Canadians. This change will remove 1.8 million Canadians from the tax rolls and benefit the remaining 13.8 million taxpayers;

Replacing the Canada Child Tax Benefit with a universal $10,000 per child income tax credit or payment. The credit (or $1,600 payment) should be available to all parents with children aged eighteen and under...Full Article


Shawn said...

Great ideas that will never be implemented under a Liberal gov't. These policies would start to wean people from government dependence, something wholly incompatible with Liberal values. As well, the type of child benefits wouldn't lead to the creation of a a massive union-run daycare fiasco.

Anonymous said...

This plan would only be a good starting point, but still well over due.

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