From: abc@a123.ca   
      
   Harper promises tax cut for families — but not until 2015-16   
      
   MARCH 28, 2011   
      
   Conservative leader and Canada's Prime Minister Stephen Harper makes an   
   announcement during a campaign stop at the Wellburn family home in   
   Saanich, British Columbia March 28, 2011.   
      
   SAANICH, B.C. — The Conservatives will allow Canadian families with   
   children under 18 to split up to $50,000 of their income annually to   
   lower their taxes, Prime Minister Stephen Harper announced Monday.   
      
   The tax-saving measure, the first of the Tories' new promises in this   
   election, was made by Harper on the third day of the campaign.   
      
   The initiative would cost the federal treasury $2.5 billion annually, but   
   won't take effect until the federal government balances its books — which   
   now isn't expected to take effect until 2015-16, perhaps a year earlier   
   if the Tories are able to cut program costs throughout the government.   
      
   Harper said the new "Family Tax Cut" will apply to parents with children   
   under 18 and will provide "significant tax relief" to nearly 1.8 million   
   Canadian families who will save an average of $1,300 per year.   
      
   He added that the tax cut will make the income-tax system fairer and will   
   reduce tax bills for families. "We understand that family budgets are   
   stretched and by making the tax system fairer for families, we will make   
   it easier for parents to cover the day-to-day cost of raising their   
   kids."   
      
   The Conservatives said that under the current system, couples with the   
   same number of children and the same household income are not treated   
   equally. A two-income couple in which one spouse earns more than the   
   other pays more federal income tax than a two-income couple in which the   
   two spouses earn equal amounts.   
      
   Moreover, a single-income couple pays even more, the Tories say.   
      
   To highlight the unfairness, the Conservatives gave examples:   
      
   - Two parents earning $60,000 and $20,000 respectively pay almost $1,300   
   more in federal taxes than two parents in an identical household, each   
   earning $40,000.   
      
   - A two-parent family in which one spouse is earning $70,000 and the   
   other is staying at home to raise children now pays almost $2,000 more in   
   federal taxes than two parents earning $35,000 each in an identical   
   household.   
      
   The promise to allow income-sharing for families with children is similar   
   to another tax measure the Tories gave to pensioners, when they allowed   
   them in 2007 to start splitting their incomes for tax purposes.   
      
   The Conservatives said they have already provided tax breaks for families   
   through other measures, including: cutting the GST; establishing a   
   child-care benefit; and creating a fitness tax credit for children in   
   sports.   
      
   "Since taking office in 2006, our government has consistently lowered   
   taxes on Canadian families so that they can keep more of their hard-   
   earned money and have the financial security to raise their children and   
   plan for the future," Harper said.   
      
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