Harper: We'll go ahead with income-splittingStaff writer ▼ | August 14, 2014
The federal government is promising income tax cuts Finance Minister Joe Oliver said in a preview of the Canadian 2015 federal budget.
Canadian 2015 budget Couples with kids to split their income
Flush with an estimated $6.4-billion budget surplus, the Harper government plans to use its next budget to dangle tax cuts in front of voters in advance of an election expected in the fall of 2015.
The proposal, which would cost $3 billion annually in foregone revenue, would benefit only about 1.8 million households and be most valuable to those where one spouse stays home while the other brings in above-average income.
The fairness of the plan has been widely questioned, including by former finance minister Jim Flaherty. ■