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Billythreefeathers
10-20-2014, 11:27 AM
Justin Trudeau would reverse promised Conservative income splitting

http://www.cbc.ca/news/politics/justin-trudeau-would-reverse-promised-conservative-income-splitting-1.2805764


Should the Conservatives make good on their promise to introduce income splitting for couples with children under 18 before the next federal election, Justin Trudeau says a Liberal government would move to reverse that decision.
Trudeau, who was in Toronto to promote his newly published memoir Common Ground, which he's released ahead of next year's federal election, spoke to CBC News on Monday morning.
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Asked what tax measures he would specifically look to reverse, Trudeau pointed to Stephen Harper's proposal to introduce income splitting once the deficit is eliminated.
"We've been talking about the income-splitting measure that the government has proposed recently."
"It doesn't help the people who need it most and it costs Canadians an awful lot to do. It doesn't make sense," Trudeau said in a telephone interview.
Trudeau has already said a Liberal government would reverse the Harper government's decision to raise the age of eligibility for Old Age Security from 65 to 67.
On Monday, he also left the door open to reversing other tax relief measures.
"We're going to look at various proposals, but the fact is we need to make sure we are helping Canadians in the best possible way. I look forward to seeing what this government proposes in the upcoming update and budget, and we'll evaluate each initiative," the Liberal leader said.
Trudeau made it clear during an interview with Radio-Canada's Les Coulisses du Pouvoir on Sunday he would not reverse pension splitting for seniors a separate tax measure the Conservatives introduced in 2007.
The Conservatives first promised to bring in income splitting for couples with children under 18 during the 2011 federal election campaign, but have since seen their caucus divided on the issue.
The late finance minister Jim Flaherty backed away from the proposal in February when he said it would appear to only benefit a small number of Canadians.
"It's an interesting idea. I'm just one voice. It benefits some parts of the Canadian population a lot. And other parts of the Canadian population virtually not at all," Flaherty told reporters following an event in Ottawa.
Harper made it clear, two weeks later, the government was still committed to its income-splitting promise.
"As I said during the election campaign, we think income splitting would be an excellent policy for Canadian families just as it has been an excellent policy for Canadian seniors," the prime minister told the Commons at the end of February.

Billythreefeathers
10-20-2014, 11:30 AM
Tax cuts for the middle class, raising kids. Any tax cut is a step in the right direction.

And lets not forget he wants a price on carbon, sounds like more taxes on the gas you put in your car and the gas or oil you use to heat your home,, GO Justin

Candychikita
10-20-2014, 01:16 PM
Interesting. I'd be interested to see some numbers on how this works. Effective 2016 if the Conservatives are voted in?

While income splitting is great for a two parent family with a big breadwinner to reduce taxes, it's financially better to be a single parent if you make less than a certain amount. Income splitting needs to net at least the amount lost for cohabitating per year in order for this to be enticing...the amount paid for CCTB, GST refunds, and the amount for dependants on your tax return.

Interesting though. Might make more people return to a sole breadwinner and have someone home with the kids?

Haywire1
10-20-2014, 01:34 PM
Considering I am reasonably sure the only reason ole shiny can walk and breath at the same time is due to 2 ipods, one in the left ear saying "left right left" and one in the right ear saying " breath in breathe out breathe in" any idea he has I automatically view with deep suspicion, and wonder what the end game is along with what genius actually thought of it. I dont know wheher this is good or bad, but it seems he is just flinging poop to see what sticks. "Oh the ndp said x I better come up with something!" Noone is forcing anyone to income split, it is just another option to help families come tax time

Strewth
10-20-2014, 02:01 PM
Noone is forcing anyone to income split, it is just another option to help families come tax time

This, as far as I know? We'll certainly be looking into it. I agree with the rest of your post as well Haywire, although poop flinging monkeys would be more entertaining than seeing a (shudder, spit) possible future leader of this country deride his opponent's optional tax cuts? What gain except possibly for self-employed spin doctors to charge a long dollar to the left-leaning media as they try and twist this into a positive sound bite?
As to rolling back OAP to 65, yah right; pull the other one Justin, it's got bells on it.
We're not retiring at 65 and passing on at 70 anymore.