Prime Minister to announce tax plan to allow family income-splitting
Posted Oct 30, 2014 05:56:56 AM.
This article is more than 5 years old.
Prime Minister Harper and Finance Minister Joe Oliver are poised to make a major announcement today that is expected to touch on economic measures for families.
Multiple sources tell The Canadian Press the package will resemble the income-splitting commitment that was a centrepiece of the Conservatives’ election platform in 2011, made contingent on a balanced budget.
Income splitting would allow spouses to pool their incomes when they fill out their tax returns, reducing their taxable income depending on their financial situation.
The promise was wildly popular among Conservatives in 2011, but has since faced much controversy.
The late Jim Flaherty publicly raised doubts about the soundness of the policy during his final days as finance minister earlier this year.
And both the Liberals and the NDP have come out against it.
Harper announced two weeks ago that the government would proceed with another campaign promise — a doubling of the child fitness tax credit.
Oliver would only confirm that the event is taking place, and he would be present.
