Unlike the high-tax NDP and Liberals, our Conservative Government believes in low taxes and leaving more money where it belongs – in the pockets of hard-working Canadian families and job-creating businesses.

That’s why we’ve cut taxes over 140 times since 2006, reducing the overall tax burden to its lowest level in nearly 50 years.

We removed over 1 million low-income families, individuals and seniors from the tax rolls altogether.

We’ve cut taxes in every way government collects them: personal taxes, consumption taxes, business taxes, excise taxes and much more. This includes:

  •  Cutting the lowest personal income tax rate to 15 per cent
  •  increasing the amount Canadians can earn tax-free
  •  providing seniors with pension income splitting
  •  reducing the GST from 7 per cent to 5 per cent, putting nearly $1,000 back in the pocket of an average family
  •  introducing the Children’s Fitness Tax Credit and Children’s Arts Tax Credit
  •  providing families with the Child Tax Credit, a credit on over $2,000 for each child under 18 years of age
  •  bringing in the landmark Tax-Free Savings Account – the most important personal savings vehicle since RRSPs
  •  creating the Tax Credit for Public Transit to help combat traffic congestion and air pollution
  •  reducing the small business tax rate from 12 per cent to 11 per cent
  •  lowering business taxes to 15 per cent, the lowest taxes on new business investment in the G-7

Indeed, our Conservative Government’s low-tax record has provided tax savings for a typical Canadian family totalling over $3,100.

Due in part to the Government’s low-tax plan, Forbes magazine ranked Canada #1 in the world as a place for businesses to grow and create jobs.

Economic Action Plan 2012 builds on our Conservative Government’s low-tax record, including:

  •  Extending the Hiring Credit for Small Business for an additional year, providing business with a credit of up to $1,000 against a small firm’s increase in its 2012 Employment Insurance (EI) premiums over those paid in 2011.  This new credit will help up to 536,000 employers with additional hiring, reducing small business’ 2012 payroll costs by about $205 million.
  •  Improvements to RDSPs (Registered Disability Savings Plans) to make it easier for disabled Canadians to save for their future
  •  Increasing the Traveller’s Exemptions on the value of goods Canadians can bring in duty- and tax-free from $50 to $200 after a 24-hour trip and from $400 to $800 after a 48-hour trip, beginning June 1, 2012
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