(Ottawa) - The Institute of Marriage and Family Canada is pleased to see some tax advantages for Canadian families introduced in the federal budget. “This budget has a number of family friendly components that have been needed for some time,” said Dave Quist, executive director.
The Finance Minister has listened to many of the needs of families. Together these policies will benefit families. Of note is the $2000 child tax credit; the end of the marriage penalty through the increase in the spousal support amount; the new Registered Disability Savings Plan to allow families with disabled children to better save for their future and the Working Income Tax Benefit of up to $500 for individuals and $1,000 for families. “These are significant steps forward in support of Canadian families,” stated Quist.
“While these are positive steps forward, there are still additional social policy and family tax changes that need to be addressed.” Broad based income tax relief for families could be achieved through family income splitting and funding for childcare would be best left in the hands of parents rather than giving money to the provinces for one form of institutional, centre-based daycare.
“Canadian families will benefit by the family friendly tax proposals in this budget. It is apparent that the Finance Minister understands the importance of a strong family in Canadian society. I would urge this government to continue to bring forward family friendly policy that will benefit society,” closed Quist.
For additional information or comment, please contact: Dave Quist, Executive Director at 613-565-3832.