Editor: The barrage of blatant vote buying ads has arrived on television and in the mail.
A cheque for $2,460 made out to “Mom and Dad” adorns the cover of our MP’s ad mail, which the taxpayers of Canada paid for.
What’s notable is the deception of what is not mentioned. These UCCB (universal child care benefit) payments are fully taxable, at rates between 20 and 45 per cent here in B.C.
Furthermore, the child amount deduction of $2,255 per child has been eliminated on the 2015 personal tax return. That will cost every parent $451 in additional taxes for every child. So, mom and dad, you’d better not spend that new “benefit,” because you’ll have to pay back most of it next April when you file your taxes.
David Truman
Brookswood Tax Services