Harper’s income-splitting program isn’t great policy, or good politics
The way the income-splitting rules are written, the real winners will be lawyers and tax-professionals
Today Prime Minister Stephen Harper announced a massive change to the way we assess and collect income tax in this country. In 2011, the Conservative Party platform promised “the Family Tax Cut” that would give “spouses the choice to share up to $50,000 of their household income, for federal tax-purposes,” when the books were balanced, at a cost (they projected) of $625 million in this fiscal year and $2.5 billion in the next. The platform argued income-splitting would “ensure that the federal income tax system respects and supports the choices that families make.” Fun-fact: the only other federal party to promise income-splitting in 2011 was the Green Party.
READ MORE: http://www.macleans.ca/economy/economicanalysis/harpers-income-splitting-program-isnt-great-policy-or-good-politics/
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