Should Canada Eliminate Tax Breaks for those in Need?

Should Canada Eliminate Tax Breaks for those in Need?

By: Aaron C, Joshua C, Chloe M.

Topic Summary

Ottawa likely to eliminate more tax breaks in next federal budget

The government will be under pressure to find a new revenue without raising taxes

Liberals heavily increased taxes on the top 1% and their priority is to reduce taxes on middle-income Canadians

The government has made measures to secure the tax laws for business owners and those who own incorporated businesses

Current Event

Tax Break In 2018, a single parent was considered in poverty because they only

earned about $16,000 yearly They were eligible for the "Earned Income Credit" which is a tax break

that helps out workers with lower incomes ($40,000 yearly)

Claims for the Affirmative

Some tax credits like transit does not really serve its purpose Eliminating all tax credits might result in a lower tax rate for all tax-paying

Canadians The potential revenue are lowered by the tax credits that the government

would have collected Tightening the tax rules for small business owners and

professionals/incorporated small businesses raises more money for government funds

Claims for the Opposition

Tax-break needs of low-income people for costs of textbooks and their children's arts and fitness classes are eliminated

The volunteer firefighters' appreciation gets eliminated The help for low-income employees costs on their uniforms and computers

gets eliminated The help for the first-time homebuyers house purchase will be eliminated

So should they eliminate tax breaks for those in need?

Justin Trudeau stated recently that "low-income families don't benefit from tax breaks because they don't pay taxes" People were not happy with what he said, but it's

TRUDEAU!!

Bibliography

Alini, Erica. "Ottawa Likely to Eliminate More Tax Breaks in next Federal Budget: Experts." Global News, 24 Jan. 2018, kQOCo6yMqxGqECg.0&utm_referrer= -budget-experts/.

Rechtshaffen, Ted. "Trudeau Is Right: 40% of Canadians Don't Pay Income Taxes, Which Means Someone Else Is Picking up the Bill." Financial Post, 13 Feb. 2019, e-else-is-picking-up-the-bill.

TurboTax. "Taxes and the Federal Poverty Level Guidelines." TurboTax Tax Tips & Videos, .

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