erase-tax

Conservative leadership candidate Maxime Bernier wants to cut income taxes for a majority of Canadians.

The Quebec MP says he will help to pay for his plan in part by eliminating so-called boutique tax credits–such as the deduction that can be claimed for moving expenses–that do not serve any public policy purpose.

Bernier is promising a more-straightforward income tax plan that would mean anyone who makes between $15,000 and $100,000 a year would be taxed at a rate of 15%.

He would also raise the basic personal amount to $15,000 so that anyone earning below that amount would not pay federal income taxes. Anyone who makes more than $100,000 would be taxed at 25%.

Read: Bill Morneau on future tax changes and CPP reform

That would eliminate two of the current federal income tax brackets, which he says would make the tax system more fair, easier to understand and less expensive to manage and enforce.

Last month, Bernier advocated scrapping the capital gains tax and slashing corporate taxes as a way to enhance economic growth.

The Conservatives will choose their new leader next May.

Also read:

Feds close loophole on capital gains exemption

How to capitalize on Trudeau’s carbon tax

How Clinton and Trump will treat U.S. taxpayers

Originally published on Advisor.ca
Add a comment

Have your say on this topic! Comments are moderated and may be edited or removed by
site admin as per our Comment Policy. Thanks!