OTTAWA, June 3, 2015 /CNW/ - On June 3, 2015, the Honourable Pierre Poilievre, Minister of Employment and Social Development, issued the following statement:
"Today, the OECD's Better Life Initiative reaffirmed what we all know so well: Canada is a great place to live and raise a family.
"In the How's Life in Canada report, the OECD looks at people's material conditions and quality of life across the population using 11 well-being indicators such as income, jobs, housing, health and safety.
"Canada ranks above the average of the 36 OECD countries in most of the well-being indicators, including ranking second in health and housing and third in safety.
"Today's OECD report confirms that our low-tax plan for jobs and economic growth is working. We continue to support families with the new Family Tax Cuts and Benefits, which includes the Family Tax Cut and enhancements to the Universal Child Care Benefit (UCCB), the Child Care Expenses Deduction and the Children's Fitness Tax Credit."
– The Honourable Pierre Poilievre, Minister of Employment and Social Development
- Under the proposed increases to the UCCB, families would receive almost $2,000 per year for each child under 6 and $720 per year for each child aged 6 through 17. The proposed enhancements to the UCCB are expected to more than double the number of families that benefit from 1.6 million to more than 4 million.
- Combined with tax relief introduced by the Government of Canada since 2006, a typical family of four can receive up to $6,600 in tax relief and enhanced benefits in 2015.
- Low- and middle-income families will receive two-thirds of the overall benefits provided by the Government of Canada's new family measures.
- The Family Tax Cut will allow a higher-income spouse to transfer up to $50,000 of taxable income to a spouse in a lower tax bracket to provide tax relief of up to $2,000 for couples with children under the age of 18.
- It is also proposed that the Child Care Expenses Deduction increase by $1,000—from $7,000 to $8,000 for children under 7; from $4,000 to $5,000 for children aged 7 through 16; and from $10,000 to $11,000 for children who are eligible for the Disability Tax Credit.
Canada's Economic Action Plan
Backgrounder: Helping Families Prosper
OECD Better Life Index
SOURCE Employment and Social Development Canada
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