Everything you need to know about the parties´ platforms

[Oscar]

Everything you need to know about the parties´ platforms, from taxes and terrorism to the environment

[ http://news.nationalpost.com/news/canad ... -platforms ]

Jason Fekete, Ian MacLeod, Lee Berthiaume, Postmedia News | August 2, 2015 12:27 PM ET

Here´s your guide to the four main parties´ record and pledges as the campaign begins:

ECONOMY, TAXES AND POCKETBOOK ISSUES

Conservatives:

- Introduced a "family tax cut" that allows couples with children under age 18 to split up to $50,000 of income; caps non-refundable benefit at $2,000.

- Increased annual contribution limit for tax-free savings accounts (TFSAs) to $10,000 from $5,500.

- Increased Universal Child Care Benefit to $160 a month for children under age six, up from $100; added new monthly benefit of $60 for children age six to 17.

- Reduced small-business tax rate to nine per cent from current 11 per cent by 2019; have reduced corporate tax rate from about 22 per cent to 15 per cent.

- Promise to balance the budget this fiscal year.

- Increased eligibility age for receiving Old Age Security benefits to 67 from 65.

- Are examining ways for Canadians to voluntarily contribute more to the Canada Pension Plan.

The NDP promises to:

- Balance the budget in 2016.

- Not raise personal income-tax rates.

- Cancel government´s income-splitting policy for families; says it helps only wealthiest 15 per cent.

- Reverse changes to TFSA contribution limits; says higher amount helps the wealthy and does little for middle-class Canadians.

- Increase income-tax rates on Canada´s largest corporations to about the levels that existed before the Conservatives took office.

- Cut small-business tax rate to nine per cent from current 11 per cent.

- Honour the expanded Universal Child Care Benefit.

- Create $15-a-day national child care program, and create or maintain one million affordable child care spaces across Canada.

- Cancel Conservative decision to increase OAS eligibility age to 67.

- Increase Canada Pension Plan contributions and benefits for Canadians.

The Liberals promise to:

- Cut middle-class income-tax bracket to 20.5 per cent from current 22 per cent; create a new tax bracket of 33 per cent for annual incomes of more than $200,000.

- Cancel income-splitting for families; party calls it "a $2-billion tax break to the top 15 per cent of Canadians."

- Introduce a new income-tested, tax-free monthly Canada Child Benefit that would boost payments to all families with children and annual income below $150,000.

- Cancel TFSA increase to $10,000, saying it helps well-off Canadians who need it the least.

- Retain tax breaks for small businesses but want to ensure this doesn´t primarily benefit the wealthy.

- Balance the budget in 2016.

- Cancel Conservative plan to increase OAS eligibility age to 67.

- Increase Canada Pension Plan contributions and benefits for Canadians.

The Greens promise to:

- Eliminate personal taxes on incomes below low-income cut-off of $20,000.

- Reduce federal small business tax rate to nine per cent by 2019.

- Raise corporate taxes over four years from the current level of 15 per cent to 19 per cent.

- Work with provinces to increase taxes on tobacco and alcohol.


SECURITY AND TERRORISM:

The Conservatives have:

MORE:

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