This upcoming election, Canadians will have two very distinct family tax plans to choose between. Shortly after the Conservatives unveiled plans to expand the current Universal Child Care Benefit program, the Liberals countered with a pledge to replace it with a new $22-billion Canada Child Benefit and overhaul existing personal tax rates. Below, we crunched the numbers to find out which party’s plan will save families more money. Parents with two kids and household income below $150,000 could see an extra $1,500 under the Liberal’s plan and families with lower incomes will see an even higher benefit. But once you have a household income above $150,000, the Conservatives’ plan starts looking more attractive. As campaigning heats up, more announcements could follow.
READ MORE: http://www.moneysense.ca/taxes/the-battle-for-family-tax-dollars/
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