Family Tax Cut – Q&A

What is the new Family Tax Cut? Under Canada’s tax system, federal personal income tax rates increase with the level of taxable income of the individual. As a result, a couple in which one individual has a higher taxable income than the other often pays more federal income tax than a couple where both individuals […]

The Family Tax Cut

The Family Tax Cut The Government of Canada is proposing a new Family Tax Cut of up to $2,000 for couples with children under the age of 18, effective for the 2014 tax year. The proposed Family Tax Cut will take the form of a federal non-refundable tax credit that will allow the higher-income spouse […]