As a person who is raising two children, with a wife studying to become a nurse, and a mortgage to pay – I’m keenly aware of what our tax burden means to a family. Having worked with entrepreneurs and businesses at the Calgary Chamber of Commerce as their manager of policy, I saw how they struggled with their tax burdens and the red tape necessary to comply with every line in the tax code.
What do lower taxes mean for a typical Canadian family?
In 2013, the typical Canadian family earned $97,254 in income and paid roughly $42,400 in taxes. About 43.5% in taxes to different levels of government. Thanks to the Conservative government's tax cutting; the average Canadian family is saving more than $3,000 each year thanks to lower taxes.
Every dollar a family is able to keep enables them to put more food on the table, enroll their kids in after school programs, or allows a parent to take a course and boost their earning power.
I am committed to ensuring that our tax burden remains reasonable and that families get a fair shake by introducing income splitting.
What do high business taxes mean to entrepreneurs?
For small business it may mean the difference between staying open and closing. Sometimes it may stop a small business owner from hiring or expanding their business.
High business taxes stifle economic growth, stop business from hiring, and weaken our international competitiveness.
I am committed to ensuring we maintain the lowest corporate taxes in the developed world to maintain our competitiveness with our trading partners.