2007-2008 Budget (May 2007), Ministère des Finances

	Your total income
	Your family situation
		Your tax reduction for taxation year 2008
		Your tax reduction since 2003

The tax reductions for fiscal year 2008 reflect the impact of the 2007-2008 Budget. They include the increases in the thresholds of the tax table and the basic amount, the rise in the amount of the tax credit for retirement income since 2007 and the indexation of the tax system for 2008.

The tax reductions since 2003 reflect the impact of the 2004-2005, 2005-2006, 2006-2007 and 2007-2008 budgets. They include the impact of the implementation of the Child Assistance, the Work Premium, the single tax system and the deduction for workers, as well as increases in the thresholds of the tax table and the basic amount, the rise in the amount of the tax credit for retirement income since 2007 and the indexation of the tax system for 2004, 2005, 2006, 2007 and 2008.

In the case of a family with two incomes, each spouse earns 50% of the total income.

In the case of a family with children, the first child is 7 years old, the second is 9 and the third, 12. The impact may vary depending on the number and age of the children.

For persons age 65 or over, total income includes retirement income, the old age security pension (OASP) and the Guaranteed Income Supplement (GIS). It is assumed that the retirement income of couples of older persons is not split. For other households, total income includes only earned income.