Wednesday, May 1, 2013

Income-splitting study released

Way revealed to bring tax fairness to families

The Hon. John McKay, MP for Scarborough, hosted an event to explain how income splitting can bring fairness to Canada's single-income families. Liberal Party of Canada.
A new study on income-splitting shows how different family types can achieve tax fairness, so that families with the same income, whether coming from one or two earners, will pay the same amount of tax. Deborah Gyapong reports:

The School of Public Policy of the University of Calgary released its study, “No More Second-Class Tax-Payers: How Income Splitting Can Bring fairness to Canada’s Single-Income Families,” April 29 at an event hosted by the Institute of Marriage and Family Canada (IMFC), Conservative MP Stella Ambler, and Liberal MP John McKay.

“Right now we have a tax system that is discriminating against single-earner families,” said one of the study’s authors, economist Jack Mintz.  “I’m a great believer in neutrality in the tax system and letting people make decisions for economic reasons without letting the tax system interfere.”

Read the full article here.

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