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2014 - Family Tax Cut & Enhanced UCCB

FAQ's

I heard that there was a recent news release regarding tax cuts for families?

Yes, PM Harper did make an announcement in October regarding certain tax cuts and benefits for families. These are proposals only at the moment and require legislative approval to take effect. The proposed new Federal measures include:

  • A Family Tax Cut where a higher-income spouse could transfer up to $50,000 of taxable income to a spouse in a lower tax bracket
  • Increasing the Universal Child Care Benefit (UCCB) for children under age six.
  • Expanding the UCCB to children aged six through 17
  • Increasing the Child Care Expense Deduction dollar limits

Details of the proposal are found in the links below.

Links