Increase the Age Credit to help our seniors get ahead
Today, Andrew Scheer, the Leader of Canada’s Conservatives, announced that a new Conservative government will increase the Age Credit by $1,000. This measure is part of the Conservative plan to put more money in the pockets of all Canadians to help them get ahead.
“The increase will benefit seniors with low or medium incomes most,” said Scheer. “Many seniors live on a fixed income and they are at the mercy of governments like Justin Trudeau’s, which has increased the cost of living and the price of everyday essentials.”
Since the Age Credit is income-tested, it will benefit low to middle income seniors. With this measure, an individual aged 65 could receive up to $150 more per year and a couple could receive up to $300 more per year.
“Our commitment is clear: it’s time for you to get ahead. This $300 tax relief for senior couples is on top of our Universal Tax Cut for all Canadians. We will also eliminate the GST from home heating costs and introduce the Green Public Transit Tax Credit. Seniors will benefit from all those tax cuts and file a single tax return in Québec, as we committed to do,” concluded Mr. Scheer.
This increase will be the third of its kind made by a Conservative government. In 2006, and again in 2009, Canada’s Conservatives increased the Age Tax Credit by $1,000.
– Independent Parliamentary Budget Officer Costing