We will cancel income splitting and other tax breaks and benefits for the wealthy. We will not end pension income splitting for seniors.
Income splitting costs the federal government $2 billion a year but delivers benefits to only a few. It will not create a single job. It will not give one young person an opportunity to get ahead.
Income splitting delivers no benefits to working parents who earn similar salaries, no benefits to single parents, and no benefits to Canadians who do not have kids.
All told, income splitting benefits only about 15 percent of Canadian households.
We will cancel Stephen Harper’s tax breaks for the wealthy, to give Canadian families more money to raise their children.