How have low- and middle-income Canadians benefited from the Governments tax relief?
Actions taken by the Government since 2006 are providing significant tax relief to individuals, totalling almost $160 billion over 2008–09 and the following five fiscal years. • All Canadians—even those who do not earn enough to pay personal income tax—are benefiting from the two-percentage-point reduction in the Goods and Services Tax (GST) rate. Maintaining the GST credit level while reducing the GST rate by two percentage points translates into more than $1.1 billion in GST credit benefits annually for low- and modest income Canadians. • All taxpayers are benefiting from the reduction in the lowest personal income tax rate to 15 per cent from 16 per cent and increases in the amount of income that can be earned before paying federal income tax. • The Working Income Tax Benefit, first introduced in Budget 2007 and enhanced under the Economic Action Plan, provides $1.1 billion annually to reduce the welfare wall and strengthen work incentives for low-income working Canadians by increas
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