mardi 3 février 2009

The Budget

Dear Mr. Ouellet,

I see nothing in the budget of much value to me. I am very disappointed in the it.

“On the personal tax front, the budget boosts the amount you can earn tax-free from $9,600 in 2008 to $10,320 for the 2009 tax year. At the same time, you can now earn a bit more before jumping up to the next tax bracket.”

“Seniors aged 65 or more get some tax relief with a $1,000 increase to the Age Credit, which rises from $5,408 to $6,408 for 2009. On a net basis, this means an extra tax savings of up to $150. However, this credit is tied to your income level and starts to fade away once you pass the $32,000 income, disappearing totally at around $75,000.”

The above is taken from the CTV News. Firstly, there is no immediate tax relief. Secondly, $150 tax saving a year, $12.50 a month if one qualifies, is an insult.

I don’t need a reply. I certainly hope there are more people in my situation who voice their opinion.

Yours truly

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