Devolin Column
December 21, 2007

EASING THE TAX BURDEN FOR EVERYONE

Whether buying a coffee or a new home, a computer or a car, you will find that there will be less taxing in 2008. The Government of Canada is ringing in the New Year with another GST cut. We are reducing the GST from six to five per cent beginning on January 1, 2008, the second GST cut in less than two years.

Our government promised to reduce the GST and we are delivering. 

A GST cut will benefit all Canadians regardless of their age or income. It will improve consumer confidence, encourage business growth and strengthen the Canadian economy.

The total savings from the 2-percentage-point reduction will amount to approximately $12 billion next year. For people here in Haliburton-Kawartha Lakes-Brock, and throughout Canada that is more money in their pocket to spend, invest or save.

The savings to individuals and families will be significant.

• A family spending $10,000 on home renovations in Cannington will save $200 in GST.
• A family spending $30,000 on a new minivan in Millbrook will save $600 in GST.

Although the Government is reducing the GST by 2 percent, the GST credit will remain at its current level, translating into $1.1 billion in benefits for low income Canadians each and every year.

Since coming to office nearly two years ago, we have provided relief in all aspects of Government tax collection.  Whether it be personal taxes, consumption taxes, excise taxes, or business taxes, more than 60 tax cuts in total have been introduced since 2006. Among these tax cuts is a commitment to reduce the federal business income tax rate from 22 per cent this year to 15 per cent by 2012. This will make Canada’s business income tax rate the lowest among the major developed economies.  

Our Government is establishing a proud legacy of tax relief. This is an achievement we can all be proud of. Our Government is putting Canadians first and managing the economy in an effective and responsible way.

 From my family to yours have a Merry Christmas and a Happy New Year.

P.S.  Don’t forget to take a break from shopping and join me for my annual Christmas Social.  It’s happening tonight (Friday December 21^st) from 7:00pm to 9:00pm at the Common Grounds Coffee House in Downtown Lindsay.  Everyone is welcome and light snacks and refreshments will be served.