Majority of Canadian families to get 'tax break' for 2017, report says

Canadian Taxpayers Federation assesses tax changes due to EI and CCB

Yorkregion.com
Dec. 28, 2016
By Ali Raza

Most Canadians can expect lower taxes in 2017.

The Canadian Taxpayers Federation released its annual report on tax changes for the New Year. The report assessed two federal tax measures and the tax impact for 44 hypothetical Canadian households.

“High income earners in most provinces will pay more, but for the majority of Canadians, these two changes will mean more money in their pockets,” said CTF federal director Aaron Wudrick.

Changes to federal Employment Insurance premiums will result in tax savings up to $132 for employees and $185 for employers. The new year will be the first full year of the Canada Child Benefit (CCB), which is tax-free.

Alberta and Ontario are set to implement a carbon tax effective January 1, 2017. CTF says there is a possibility the carbon taxes will “claw back” on gains made from EI and child benefits.
Canadians in Quebec will see the largest tax reduction, with families earning $250,000 paying $1,409 less in tax. The cuts come from an abolition of the provincial health tax and changes to EI.

A family earning the same in Newfoundland would see a tax hike of $3,000 instead.