It is more expensive to live in Canada under Justin Trudeau

March 14, 2017
Since day one of forming Canada’s Official Opposition, our Conservative Caucus has been the voice of taxpayers across the country. This builds on our strong record of keeping taxes low for families during our years in government, as we implemented measures that helped the average Canadian family save over $6,600 per year. But now many of these tax credits have been cut by Justin Trudeau and his Liberal Government. For many families, this will be the last year they will be able to be claimed.

The Liberals have raised taxes on Saskatchewan’s job creators by scrapping the Hiring Credit for Small Business and cancelling the scheduled lowering of the small business tax rate. Our previous Conservative government created the hiring credit to provide relief on an employer’s share of EI premiums paid in a year to help spur job creation. The Liberals have placed this credit on the chopping block. As a result, the 2016 tax year will be the last year that businesses with EI premiums of $15,000 or less will have their payroll taxes lowered by 15 per cent.

Canadian small business owners were also blindsided when the Liberal government broke a key election promise to keep the former Conservative Government’s scheduled lowering of the small business tax rate. Justin Trudeau has instead chosen to raise taxes on small businesses by keeping their tax rate at 10.5 per cent, instead of lowering it to the scheduled nine per cent. The Parliamentary Budget Officer expects our small businesses to pay an additional $3.8 billion in taxes over the next five years as a result.
 
The Liberals have also raised taxes on Saskatchewan families by eliminating the Family Tax Cut, the Children’s Fitness Tax Credit, the Children’s Arts Tax Credit, the Education Tax Credit and the Textbook Tax Credit. It also cut the Tax Free Savings Account contribution limit by half.

The Family Tax Credit provided up to $2,000 in tax relief for couples with children under the age of 18 by allowing a spouse to transfer up to $50,000 of taxable income to their spouse in a lower income tax bracket. The Liberals scrapped this initiative. Hence you will not find it on 2016 tax forms. This will also be the last year that families will be able to claim the aforementioned tax credits; so be sure to take advantage of them while you still can.

Our previous Conservative government created Tax-Free Savings Accounts to help all Canadians work towards their short and long term financial goals. We had increased the contribution room to $10,000 to help you save more, but the Liberals clawed this amount back to $5,500 in January 2016 and the maximum contribution room for 2017 will be indexed for inflation.

Starting in 2018, the Liberals will also implement their carbon tax – a tax that will cost the average family more than $2,500 per year by 2022. It will also add at least 15 per cent to our natural gas bills and increase the price at the pumps by more than 11 cents per litre. Canadians can truly say that it is more expensive to live in Canada under Justin Trudeau’s Liberal government.

Despite already betraying the middle class by raising taxes and introducing new ones during their first year in office, the Liberals have plans to raise taxes even more.
The Liberal Finance Minister has already confirmed that the government will be looking to cut even more tax credits in preparation for the 2017 budget. This is not what Canadians asked for when they elected Justin Trudeau.

In fact, come this tax season, Canadians may be feeling some buyer’s remorse.
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