A Lift for Local Low-Income Workers and FamiliesPublished on November 15, 2018
The Government of Ontario is putting more money back in people’s pockets in Haliburton – Kawartha Lakes – Brock by introducing one of the most generous tax cuts for low-income earners in a generation: the Low-Income Individuals and Families Tax Credit (LIFT).
Those who earn $30,000 or less would pay zero provincial personal income tax on their 2019 tax returns. Low-income individuals will save up to $850 per person and couples will save up to $1,700 together.
“This tax break will make a real difference for low-income families and workers in Haliburton – Kawartha Lakes – Brock,” said MPP Scott. “It will put more money in their pockets and help make life more affordable.”
In all, 1.1 million people in Ontario will benefit from this tax relief measure. Individual incomes just over $30,000 a year and family incomes over $60,000 a year will see graduated tax relief, as well.
“I am pleased to see that every single dollar of these savings is going to those who need it the most,” added MPP Scott.
The tax credit will take effect on January 1, 2019.
“In a few short months, our Government has provided more than $2.7 Billion in much-needed tax relief to the people of Ontario,” concluded MPP Scott.