PRESS RELEASE
BEV SHIPLEY, MP
Lambton-Kent-Middlesex
For immediate release

When it comes to supporting middle income families with children, no one has a better record than our Conservative government.

Yesterday, our Prime Minister Stephen Harper announced four new and important tax measures to support families with children by putting more of their hard-earned money back in their pockets just where it belongs. These measures make good on our commitment to Canadians to provide significant tax relief once we balanced the budget.

As the Member of Parliament for Lambton-Kent-Middlesex I am pleased to report – Promise Made and now – Promise Kept.

The proposed new measures include:

• Introducing the Family Tax Cut, a federal tax credit, (Income Splitting) that will allow a higher-income spouse to transfer up to $50,000 of taxable income to a spouse in a lower tax bracket. The credit will provide tax relief – capped at $2,000 – for couples with children under the age of 18, effective for the 2014 tax year.
• Increasing the Universal Child Care Benefit (UCCB) created by our government in 2006 for children under age six. As of January 1, 2015, parents will receive a benefit of $160 per month for each child under the age of six – up from $100 per month. In a year, parents will receive up to $1,920 per child.
• Expanding the UCCB to children aged six through 17. As of January 1, 2015, under the expanded UCCB, parents will receive a benefit of $60 per month for children aged six through 17. In a year, parents will receive up to $720 per child.
• Increasing the Child Care Expense Deduction dollar limits by $1,000, effective for the 2015 tax year. The maximum amounts that can be claimed will increase to $8,000 from $7,000 for children under age seven, to $5,000 from $4,000 for children aged seven through 16, and to $11,000 from $10,000 for children who are eligible for the Disability Tax Credit.

Families can claim the Family Tax Cut in the spring of 2015 when they file their 2014 tax returns. They will begin to receive payments under the enhanced UCCB in July 2015. The July UCCB payment will include up to six months of benefits to cover the period from January through June 2015.

 Quick Facts

• All families with children will benefit from the new measures introduced by our Government. The average tax relief and benefits for these families will be $1,140 in 2015.
• Low and middle-income families will receive two-thirds of the overall benefits provided by the package.
• Canadians at all income levels are benefiting from federal tax relief measures introduced since 2006, with low and middle-income Canadians receiving proportionately greater relief.

These measures are in addition to the announcement we made earlier this month to double the Children’s Fitness Tax Credit from $500 to $1000 and make it refundable.

Previous tax-relief measures introduced by your Government since 2006 have resulted in a tax reduction of approximately $3,400 in 2014 for an average two-earner family with two children.

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For more information please contact Bev Shipley – (613) 947-4581