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A
targeted tax reduction of $172 million
This
series of measures will reduce the tax burden by $172 million
annually for some 780 000 households, which means average
tax savings of $222, or 4%, per household concerned.
This
tax relief will be felt mainly by persons aged 65 or over
and couples:
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162 000 households with persons aged 65 or over will
save an average
of $280;
- 242 000
couples with children will save an average of $242;
- 206 000
couples with no children will save an average of $240.
These
tax cuts will improve the progressivity of the tax system
by especially benefiting low- and middle-income households.
For example, these measures will entail:
-
an average tax cut of 44% for 89 000 households with an
income
below $25 000;
-
tax savings of 10% for 282 000 households earning between
$25 000
and $50 000.
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