MONTREAL, March 22, 2013 /CNW Telbec/ - The Conservatives' decision to phase out the tax credit for labour-fund contributions by 2017 will cost holders of a labour-fund RRSP an average of $425.15 more in taxes.
For the 12 months ended February 2013, Fonds shareholders contributed an average of $2,834.33 to their Fonds RRSP. Once the 15% tax credit is eliminated in 2017, they will see their taxes go up by $425.15 on average.
"With retirement planning becoming increasingly more urgent for Quebecers, it is unconscionable for the Conservative government to eliminate this important savings incentive," said the Fonds' Executive Vice-President of Shareholder Services, Denis Leclerc.
SOURCE: Fonds de solidarité FTQ
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