Lowering Taxes for the Middle Class
Patrick Brown and the Ontario PCs will lower the tax burden for families earning under $100,000 by at least 25%
Today Patrick Brown, Ontario PC Leader, laid out his plan to lower taxes for the middle class by cutting middle and lower income tax rates and increasing the Ontario Sales Tax Credit.
“Families in every corner of the province are struggling to make ends meet. They need a break,” said Brown. “Ontario will cut taxes for middle class families to make life more affordable.”
Ontario has lost its traditional above-average income status in Canada. In the 1990s, Ontario’s average income was 10% above the national average but, in 2012, incomes in Ontario fell below the national average for the first time ever.
Ontario families are working harder, paying more, and getting less. That’s why the government needs to do more to alleviate the tax burden on the middle class.
Over the course of the mandate, Patrick Brown and the Ontario PCs will cut personal income taxes for the middle-class tax bracket – on income between about $45,000 and $80,000 – by 22.5%.
Ontario families are working harder, paying more, and getting less. That’s why the government needs to do more to alleviate the tax burden on the middle class.
Over the course of the mandate, Patrick Brown and the Ontario PCs will cut personal income taxes for the middle-class tax bracket – on income between about $45,000 and $80,000 – by 22.5%.
In addition, Patrick Brown and the Ontario PCs will cut personal income taxes for the first income tax bracket – on income between $0 and about $45,000 – by 10%. Finally, they will increase the Ontario Sales Tax Credit by $100 per adult and $100 per child in order to provide relief to Ontario’s low-income residents.
“Households earning $100,000 or less will see at least a 25% tax reduction,” Brown said. “Families earning between $100,000 and $200,000 will see on average a 20% reduction in their tax owing, while families with incomes above $200,000 will see on average a 7% reduction in tax owing.”
Cutting middle class taxes by 22.5% is one of five key measures included in the Ontario PC Party’s plan to get Ontario back on track, called the People’s Guarantee. Additional measures in the People’s Guarantee include:
“Households earning $100,000 or less will see at least a 25% tax reduction,” Brown said. “Families earning between $100,000 and $200,000 will see on average a 20% reduction in their tax owing, while families with incomes above $200,000 will see on average a 7% reduction in tax owing.”
Cutting middle class taxes by 22.5% is one of five key measures included in the Ontario PC Party’s plan to get Ontario back on track, called the People’s Guarantee. Additional measures in the People’s Guarantee include:
- 75% refund for child care expenses
- 12% more off your hydro bill
- The largest mental health commitment in Canadian provincial history
- The first-ever Trust, Integrity and Accountability Act