Minister Poilievre Highlights Tax Cuts and Increased Benefits for Canadian Families
FOR IMMEDIATE RELEASE
On October 31, 2014, Democratic Reform Minister Pierre Poilievre, MP for Nepean-Carleton, announced new measures to make life more affordable for Canadian families and to help them prosper. He was joined by local families at his Manotick constituency office for this special announcement.
“The Conservative Government is focused on helping hard-working Canadian families make ends meet,” said Minister Poilievre. “In fact, since 2006, we have cut taxes by close to $3,400 per year for the average family.”
“Today, we are building upon these measures with additional tax relief of approximately $1,140 for these families,” continued Minister Poilievre. “Under this plan, we are making priorities like child care and after-school sports more affordable. We know that parents, not bureaucracy, are best suited to spend this money to meet their individual needs.”
Specifically, the initiative will achieve the following:
- Increase the Universal Child Care Benefit (UCCB) for children under age 6. This means, starting in January 1, 2015, parents will receive up to $1,920 per child, per year.
- Replace the Child Tax Credit with an expanded UCCB payment of $60 per month for children aged 6 through 17. Beginning in January 1, 2015, parents will receive up to $720 per child, per year.
- Introduce the Family Tax Cut, allowing a spouse to transfer up to $50,000 of taxable income to a spouse in a lower tax bracket. The credit will provide tax relief—capped at $2,000—for couples with children under the age of 18, effective from the 2014 taxation year.
- Increase the Child Care Expense Deduction dollar limits by $1,000, effective for the 2015 taxation year. The maximum amounts claimed will increase to $8,000 for children under age 7, to $5,000 for children aged 7 through 16 (and infirm dependent children over age 16), and to $11,000 for children who are eligible for the Disability Tax Credit.
Low- and middle-income families will be the ones to most benefit from these measures.
Pension income splitting has been helping seniors across the country, which is why the Government is now providing similar relief for families.
In addition, the Government announced its intention to double the Children’s Fitness Tax Credit to $1,000 earlier this month. This credit will be made refundable effective for the 2015 and subsequent tax years.
Families can claim the Family Tax Cut in the spring of 2015 when they file their 2014 tax returns. They will begin to receive payments under the enhanced UCCB in July 2015. The July UCCB payment will include up to six months of benefits to cover the period from January through June 2015. The enhanced UCCB will replace the existing Child Tax Credit for the 2015 and subsequent taxation years.
Together, alongside previous tax-relief measures introduced by the Conservative Government since 2006, this new initiative will bring the total tax reduction to approximately $4,500 for the average Canadian family in 2015.
Photo Caption: Democratic Reform Minister Pierre Poilievre, MP for Nepean-Carleton, stands with families from the community to celebrate the new Conservative Government tax relief measures for families.
For local media inquiry, please contact:
Office of Pierre Poilievre, MP for Nepean-Carleton
613 218 9429