Leave a commentHalifax, Nova Scotia, Ontario, May 20, 2013… The Honourable Gail Shea, Minister of National Revenue and Minister for the Atlantic Canada Opportunities Agency, today announced that Canadian families are receiving significant tax refunds as a result of the low-tax measures introduced by the Harper Government since 2006.
“Our Government is committed to a low-tax plan that supports hardworking Canadian families,” said Minister Shea. “We understand that keeping taxes low allows Canadians to keep more of their hard-earned money and meet the financial challenges of raising a family.”
The average individual tax refund so far for the 2012 tax year is approximately $1,620. That is a significant increase from the average individual tax refund of $1,230 in 2007.
The Harper Government’s strong record of providing tax relief to Canadians is delivering real results. The average family of four now saves more than $3,200 annually in taxes, including an average of $1,000 from reducing the Goods and Services Tax (GST) rate by two percentage points.
“Canadian families are seeing the results of our Government’s low-tax plan and can reinvest their refunds in important family priorities,” said Minister Shea. “We will continue to support tax relief measures that will help reduce the cost of every-day living.”
The Harper Government has increased the amount of income that all Canadians can earn before paying federal income tax and reduced the lowest personal income tax rate from 16% to 15%.
Minister Shea joined many hardworking Canadian families at a Soccer Nova Scotia’s event celebrating 100 years of soccer in the province, where she took the opportunity to highlight the many tax-saving measures that are available to Canadian families. These credits include:
- Children’s Fitness Tax Credit
- Children’s Arts Tax Credit
- Family Caregiver Tax Credit
- Trades person’s Tool Deduction
- Textbook Tax Credit
- Public Transit Tax Credit
- Volunteer Firefighters’ Tax Credit
For more information on these and other credits, go to www.cra.gc.ca/taxsavings.