ELECTION 2015: Conservatives pledge single seniors tax credit

Tory break would translate into $300 less in annual tax for widows, single seniors with private pension income

Prime Minister Stephen Harper sought to shore up Conservative support among older voters by promising a new tax break for single and widowed seniors if his government is re-elected.

The $2,000 tax credit would translate into up to $300 a year in reduced income tax for nearly 1.6 million single seniors who have private pension income beyond CPP and OAP.

Eligible seniors could combine it with the existing $2,000 pension income tax credit for a combined benefit of up to $600 a year.

“It is an affordable commitment,” Harper said Tuesday in North Vancouver, noting it will be phased in over four years at an eventual annual cost of nearly $400 million. “It helps the seniors who need it most.”

Both the NDP and Liberals have promised to increase the Guaranteed Income Supplement for lower income seniors.

The Liberals say their proposed immediate 10 per cent hike to GIS payments would add up to an extra $920 a year for a low-income senior.

The Conservatives have sought to portray Liberal and NDP promises as unaffordable and therefore unreliable.

The Liberals and NDP have also pledged to scrap the Conservatives’ 2012 decision to make many future seniors wait an extra two years until age 67 before becoming eligible for OAP and GIS. That change is to be phased in starting in 2023.

Both Opposition parties aim to expand CPP, drawing criticism from Harper that their approaches amount to hefty payroll tax hikes.

The NDP and Liberals both would unwind another Harper government change they say benefits only the wealthy – the increased $10,000 contribution limit for Tax Free Savings Accounts.

But both parties say they would preserve income splitting for seniors.

Earlier in the week, NDP leader Tom Mulcair pledged to bolster health care transfers to the provinces with an extra $1.8 billion.

Just Posted

Teen stabbed at Surrey’s Unwin Park

17 year old was transported to hospital with non-life-threatening injuries

No WorkSafeBC orders after ruptured water main damaged White Rock theatre

Investigation confirms that the water line ruptured as a result of pressure testing

3 ‘Dream Home’ lottery prizes located in South Surrey

Proceeds support BC Children’s Hospital

White Rock’s Johnston Road re-opened

North and south traffic re-opened Friday evening

UPDATE: Power outage in South Surrey, White Rock

Power has been restored to 1,004 customers

Environment Canada confirms Ottawa area hit by two tornadoes Friday

At one point more than 200,000 hydro customers were blacked out

B.C. man fined $15,000, barred from trading securities for fraud

Larry Keith Davis used money from an investor to pay personal bills

Emergency crews investigate small sulphuric acid spill in Kootenays

IRM states a small volume of less than one cup and three dime-sized drips were leaked from carrier

Family, friends of B.C murder victim want killer sent back to max security facility

Group wants convicted murderer Walter Ramsay sent back to a maximum security facility

Man facing charges after allegedly climbing into police car, spraying fire extinguisher

Vancouver police say the man appeared to be under the influence of drugs

Porsche impounded for going 138 km/hr in 90 zone during charity rally

West Vancouver Police said wet roads and heavy rain made it extra dangerous

B.C. VIEWS: Looking under the hood of ICBC’s war on crashes

Is our accident rate really soaring, or is it inefficiency?

B.C. tent city residents have three weeks to clear out: Supreme Court

Fire risk, criminal activity in neighbourhood cited as reasons for judgment

Most Read