Since 2006, the Conservative Government has cut taxes over 160 times, saving the average family $3,400 every year.  That’s a record we’re pleased with, and one that many Canadian families have benefitted from.  For example, almost a million and a half families have taken advantage of the Children’s Fitness Tax Credit.  And approximately 1.7 million families with young children receive the Universal Child Care Benefit.

This government recognizes how difficult it is to raise a family today. That’s why we’re working to put even more cash back into the pockets of hard-working Canadian families.  We’re building on our record with new measures specifically intended to continue helping offset the costs of raising a family – costs such as child care and sports activities.

First, we are introducing the new Family Tax Cut.  Income splitting for seniors has proven successful, and we’re now offering a similar initiative for families. The Family Tax Cut will allow the higher-earning parent to, in effect, transfer taxable income to the other parent who is in a lower tax bracket, up to a maximum benefit of $2,000.  This will enhance fairness by treating families with the same overall incomes in a comparable way.

Something else we’re doing is introducing an increase and expansion of the Universal Child Care Benefit (UCCB).  Since 2006, the UCCB has delivered choice for parents when it comes to child care.  We are now increasing the benefit to $160 per month per child under the age of six, or $1,920 per year.  And we’re delivering a new benefit of $60 per month, or $720 per year, per child aged six through seventeen.  This enhanced UCCB will replace the existing Child Tax Credit, benefitting some four million families.

A few calls to my office have shown that there is some confusion regarding the similar names of these benefits. Please note that the UCCB is different from the Canada Child Tax Benefit (CTTB), a monthly payment to assist eligible families. That will not be reduced, nor will the Goods and Services Tax Credit.

We are also increasing each of the Child Care Expense Deduction dollar limits by $1,000.  This is the initiative that allows child care expenses to be deducted from taxable income if the child care is due to the parent working, going to school or performing research.  The limits will be increased to $8,000 from $7,000 per child under age seven, $5,000 from $4,000 for each child aged seven to sixteen (and infirm dependent children over age sixteen), and $11,000 from $10,000 for children who are eligible for the Disability Tax Credit.

Finally, our government has already announced changes to the Children’s Fitness Tax Credit – a doubling of the claimable amount for children in sports activities, now increased to $1,000.  As of the 2015 tax year, that credit will be refundable, increasing the benefit for low-income families who claim it that year and subsequent years.

While our government builds on our strong record of significant tax relief for families, Canadians can be sure that, if given the opportunity, the Opposition would reverse all the work that’s been accomplished.  You can be sure that our Conservative Government will continue to stand up for families.

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