- Reducing Hydro Bills by 12%, saving the average family $173 per year.
- Introducing a minimum wage tax credit that ensures minimum wage earners pay no provincial income tax, saving low-income earners as much as $850 per year.
- Introducing a child care rebate that respects parents to make their own child care decisions, with rebate of up to 75% on child care expenses, saving parents up to $6750 per child.
- Eliminating Kathleen Wynne’s ‘cap-and-trade’, saving drivers over four cents per litre at the pump.
Backgrounder – 20% Middle Class Tax Cut
- Ontario has lost its traditional above-average income status in Canada.
- In the 1990s, Ontario’s average income was 10% above the national average, but in 2012, incomes in Ontario fell below the national average for the first time ever.
- Between 2005 and 2015, Ontario families saw the slowest rate of income growth of any province in Canada.In fact, during that period, median individual income in Ontario grew 3.8% while, in Canada, total average income rose by 12.7%.
- Ontario’s median household after-tax income rose by 5.9% in those years (2005-2015), despite the growth of 11.3% for Canada as a whole. Over that same period, employment income for Ontario workers actually declined by 2.3% – the only negative growth rate among all provinces.
- We know how hard taxpayers work for their money. You shouldn’t be paying more than you need to.
- You deserve a government that is working for you and respects your hard-earned dollars.
How We Will Fix It:
- A Doug Ford-led Ontario PC Government will introduce a 20% income tax cut for the middle class.
- This tax cut will benefit the second, middle class tax bracket, which are earners between $42,960 and $85,923.
- This means, the current rate of 9.15% for these income earners will drop to 7.32%, and save taxpayers as much as $786 a year.
- That’s more money in your pocket to spend on your priorities.
- The Ontario PCs will put more money in your pocket. This tax cut adds to the money-saving measures a Doug Ford Government will introduce, which includes:
o Lower hydro bills by 12 – an average saving of $173 per year.
o Minimum wage tax credit, saving minimum wage earners as much as $850 per year.
o Childcare rebate that returns up to 75% of childcare costs back to parents.
o Scrapping the Cap and Trade scam, which will save families $285 per year.