Conservatives pledge income-splitting - MoneySense

Conservatives pledge income-splitting

On day three of the federal election campaign, Conservative leader Stephen Harper promises tax-breaks for families.

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Prime Minister Stephen Harper has promised to allow parents of children under 18 to split up to $50,000 of their income annually to lower their taxes.

Harper says the tax-break would provide relief to nearly 1.8 million Canadian families who could save an average of $1,300 per year.

However, there’s a catch. This proposed plan would only be effective after the deficit is cleared in 2015.

The initiative would cost the federal government $2.5-billion annually.

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