Wild Rose MP Blake Richards finished his annual pre-budget consultation meetings Dec. 17.
Seeking input from constituents from across his riding, Richards’ office also gave out surveys to some 60,000 households in the riding; an online survey is still available at blakerichards.ca.
“Generally speaking, constituents told me that they were pleased to see our government will balance the federal budget in 2015 and they want us to remain fiscally disciplined,” said Richards in a recent press release.
He added that priority is on ‘reducing taxes when possible, while prioritizing new spending on necessary infrastructure to keep up with the growing economy’.
The new five-point plan to support Canadian families was the discussion highlight at the pre-budget consultation meetings.
“This year’s consultation provided me with an opportunity to outline this comprehensive plan and will benefit more than four million Canadian families, offering them average tax relief and benefits over $1,100 in 2015.”
According to Richards, the initiative aims to keep more money in the pockets of hard-working families by making child care and after-school sports more affordable.
The five-point plan through the federal government includes:
Increasing the Universal Child Care Benefit (UCCB) for children under the age of six. Under the changes, this benefit would increase from $100 to $160 per month for each child under age six.
Expanding the UCCB for children ages 6-17. This would mean parents would receive $60 month beginning Jan. 1, 2015.
The Family Tax Cut — this federal, non-refundable tax credit would allow a spouse to transfer taxable income to a spouse in a lower tax bracket. This would be in effect for the 2014 tax year, allowing relief to couples with minor children, up to a maximum of $2,000 per year.
Increasing the Child Care Expense Deduction dollar limits by $1,000, effective for the 2015 tax year. The maximum values would increase from $7,000 to $8,000 for children under the age of seven; from $4,000 to $5,000 for children ages 7-16; and from $10,000-$11,000 for children eligible for the Disability Tax Credit.
Doubling the Children’s Fitness Tax Credit and making it refundable. Effective for the 2014 tax year, parents would be able to take advantage of this $1,000 maximum limit. By making the credit refundable, lower income families would benefit. By full implementation, some 850,000 families would benefit.
