Under the leadership of Prime Minister Harper, our government is focused on putting more money in the pockets of Canadian families.
You may have heard about our Family Tax Cut, which allows the transfer of taxable income to a spouse in a lower tax bracket for parents of children under eighteen. This program (which will apply to the 2014 tax year and all subsequent years) is similar to our highly successful - and extremely popular – tax-splitting structure for seniors.
More than 1.7 million Canadian families are expected to benefit from the Family Tax Cut, which will provide $2.4 billion in tax relief for Canadian families in 2014-2015 alone.
Beginning in January of 2015, the Universal Child Care Benefit will increase from $100 per month to $160 per month for children under six years of age.
The UCCB will also expand to include children six through seventeen, with parents receiving a benefit of $60 per month.
Payments under the UCCB will begin in July, 2015, with a payment of six months of benefits comprising the January through June 2015 period.
Our government has also announced its intention to double the Children’s Tax Credit and make it refundable. The credit will be increased to $1000 and will be refundable effective beginning in the 2015 tax year.
Under our Conservative government’s stewardship, Canadians of all income levels are benefitting from our low-tax policy, with those in the low and middle-income brackets reaping the greatest benefits.
“Our government is focused on helping hard-working Canadian families make ends meet, by making important priorities like child care and after-school sports more affordable,” said Prime Minister Harper, “Under this plan, every family with children will have more money in their pockets, to spend on their priorities as a family.”
