Making Things Just A Little Bit Easier
Premier McGuinty Talks With Parents About Family Finances
Premier Dalton McGuinty spoke with parents about their concerns around household expenses in lean times and let them know how the government is helping Ontario families.
The Premier was on hand at Central Eglinton Community Centre in Toronto to greet parents as they arrived to participate in family programs. He took the opportunity to talk about ways the government is doing its part:
- Cut personal income taxes for 93 per cent of taxpayers as of January 2010 -- an average tax cut of $200 per year.
- The proposed new Children's Activity Tax Credit would help parents with the cost of activities that encourage kids to become healthy and active. Parents can claim up to $500 in eligible expenses for a credit of up to $50 per child or up to $100 for a disabled child.
- The proposed Ontario Energy and Property Tax Credit enhancement means more seniors would benefit from relief on energy costs and for property taxes. The OEPTC would provide up to $1,025 for eligible seniors.
- The Ontario Sales Tax Credit provides low- to middle-income individuals and families with tax relief on the sales tax they pay. The sales tax credit gives back up to $260 per person, including children, or up to $1,040 for a family of four.
- The Ontario Child Benefit provides financial support for low-income families and reaches more than one million children each month. Currently the Ontario Child Benefit provides up to $1,100 annually per child, increasing to $1,310 by December 2013.
- Since 2009, the Ontario Senior Homeowners' Property Tax Grant has been helping senior homeowners stay in their homes and help pay their property taxes, providing up to $500 per year. Over 600,000 senior homeowners will benefit over the next five years.
The Premier also said tomorrow's Fall Economic Statement will include further measures to help Ontario families manage through these lean times.
- Direct payments totalling up to $1,000 for a family or $300 for a single person are assisting with the transition to the Harmonized Sales Tax.
- The Northern Ontario Energy Credit provides up to $130 for a single person and up to $200 per family in the North to help with energy costs. Over half of all Northerners will receive relief.
- So far, Ontario has recovered 75 per cent of jobs lost during the global economic recession.
“Families have been through the wringer when it comes to the economy and their expenses. That's why we want to help make life a little bit easier with tax relief for families. From electricity costs to helping kids stay active, we are helping families manage through these lean times. Working together we are building a province our kids and grandkids will be proud of.”