Brad Trost, MP
Saskatoon – Humboldt

News Release  April 21, 2015

Budget Balanced: Taxes Down
Family of Four will receive over $6,600 in Tax Relief

OTTAWA – Brad Trost, Member of Parliament for Saskatoon-Humboldt, says that keeping taxes low for families is a key part of the 2015 federal budget.

“Today’s federal budget is good for families trying to make ends meet,” Trost said. “We believe that parents figuring out the family budget around the kitchen table are much better at setting priorities than anyone in Ottawa. Our Conservative budget reflects this philosophy.”

For example, Trost pointed out that a two income family of four will receive over $6,600 in tax relief and enhanced benefits in 2015. (See Economic Action Plan 2015; chapter 4.1, page 229).

Since we were first elected in 2006, our Government has implemented policies and passed legislation to make life more affordable for families and individual Canadians too,” Trost said. “In past budgets, we cut the GST from seven to five per cent; created the Tax-Free Savings Account (TFSA) and increased the basic personal amount. And recently, we introduced income splitting for families.” In 2015, the basic personal amount (the amount of income that an individual can earn without paying federal personal income tax) is up to $11,327.

“Our Government’s commitment to cutting taxes and ensuring taxpayer dollars are spent wisely is reflected by our promise to balance the budget in 2015. Balancing the budget will mean more tax dollars are spent on programs that Canadians rely on instead of going to interest payments on our national debt,” Trost stressed.

“I am also happy that our budget also contains measures to help students with their loans,” Trost said.

Economic Action Plan 2015 proposes to reduce the expected parental contribution under the Canada Student Loans Program needs assessment process, so parents can better balance competing financial pressures. The 2015 budget also enhances Canada Student Loans by eliminating in-study income from the Canada Student Loans Program needs assessment process.

“Funds for research and development will support world class innovation at our universities,” Trost noted.

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For more information, contact the Ottawa office of MP Brad Trost at (613) 992-8052.