Ottawa vows to block education tax shelter
Tories go on defensive after Liberal MP sneaks bill through Commons that would allow parents to set aside up to $5,000 each year
OTTAWA — The Harper government vowed Thursday to kill legislation introduced by a Liberal MP and quietly passed by the House of Commons that would allow parents to contribute up to $5,000 a year to their children's education and deduct it from their income tax.
The measure would cost the government $900-million and wreak havoc with projections contained in last week's federal budget, which predicted a razor-thin surplus of $2.3-billion in the next fiscal year and $1.3-billion the following year.
“We will do everything in our power to stop this bill from progressing further as it represents a flagrant abuse by the Liberals of the use of private members business in order to spend taxpayers' money,” said Chisholm Pothier, spokesman for Finance Minister Jim Flaherty.
1 comment:
this isn't a tax break just for the 'rich'. Come on let's look at this rationally. You see, it doesn't require you to put all 5000 in to save, even those in tighter budgets can realize significant benefits! Compare that to the paltry offering Flaherty's savings plan offers! This plan give way more tax relief, and specifically, more relief to those with less money.
Man that just has to piss of the conservatives. So go ahead Harper, take it away from us...
This tax break blows a hole in ANYTHING Flaherty offered and embarrasses the tories bigtime.
And that, is fact.
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