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How the federal budget tax cuts affect you

OTTAWA - Examples of how the federal budget tax-relief measures affect different households for 2009:

OTTAWA - Examples of how the federal budget tax-relief measures affect different households for 2009:

Single person earning $40,000: Saves $115 in federal income taxes.

Single parent of two children, earning $35,000: Saves $66 in federal income taxes; child benefits increase by $436.

Married couple with two children, parents earn $45,000 and $85,000: Saves $483 in federal income taxes.

Married couple with two children, one parent earns $90,000: Saves $350 in federal income taxes; child benefits increase by $76.

Single senior earning $30,000: Saves $183 in federal income taxes (partly through increase in Age Credit).

One-or two-pension senior couple earning $40,000: Saves $366 in federal income taxes (partly through increase in Age Credit).

Retired couple, earning $65,000 and $20,000 in pension income: Save $631 in federal income taxes (partly through increase in Age Credit).

(Source: Finance Canada)

 
 
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