Canada's new government delivers on lower taxes
by Peter Van Loan, MP York-Simcoe

You work hard - but high taxes mean you don't keep enough. To help families get ahead, we've introduced the $100 a month child benefit, and introduced a tax credit for children's organized sports. But we recognize that hard working families also need simple tax relief.

Canada's new government is keeping its promise to Canadians by delivering lower taxes with its Tax Relief Plan. The measures below are part of the Conservative's plan to deliver over $20 billion in tax cuts over the next two years. For every $1 in new spending, Canada's new government delivers $2 in tax relief. In all, we introduced 29 tax cuts, with over 90 per cent of those tax reductions going to individual Canadians and their families.

We reduced the GST from 7 to 6 per cent effective July 1 of this year and there's more to come.

The following measures were part of the income tax measures that were proposed in Budget 2006.

They include:

 The new Canada Employment Credit to help Canadians offset the costs of working. Canadians can put this money towards things like uniforms and computers

 The new Textbook Tax Credit to help students.

 The new tax credit on public transit passes.

 The new deduction for tradespeople's tool expenses

 A complete exemption for scholarship income received in connection with enrolment at an institution which qualifies the student for the education credit.

 A doubling, to $2,000 of the amount of pension income that is completely tax free.

The new Apprenticeship Job Creation Tax Credit

 A reduction of the current 12 per cent small

business tax rate to 11.5 per cent for 2008 and to 11 per cent thereafter.

 An increase to $400,000 from $300,000, of the amount that a small business can earn paying only the lower small business tax rate effective January 1, 2007.

Canada's new government promised change and we are delivering on our promises! Over the coming months, as we develop initiatives for consideration in Budget 2007, we will examine ways to help provide even more tax relief to Canadians - because the tax burden on the residents of Innisfil and all Canadians is still too high.

The residents of York- Simcoe need to keep more of their money to invest in their own families and their own priorities and their futures, to invest in our economy and help businesses thrive, and that helps all of us Canadians.

The dream has always been in this great country that each generation does better that the generation before, that the standard of living and the quality of life of each generation is higher than the generation before. It's the goal of Canada's new Government to ensure that that happens.