Finance Minister Flaherty Waivers on Income-Splitting

“Federal Finance Minister Jim Flaherty suggested today he no longer supports bringing in income splitting for couples with children, kicking off a debate over whether the Conservatives are stepping back from a 2011 campaign promise,” Laura Payton wrote yesterday for a article. Payton continued, “The Conservative promise to introduce income splitting was a major part of the last election campaign and was tied to bringing the budget back into balance, something the government will likely have achieved a year from now. ‘It’s an interesting idea. I’m just one voice. It benefits some parts of the Canadian population a lot. And other parts of the Canadian population virtually not at all,’ Flaherty told reporters following an event in Ottawa. ‘And I like to think I’m analytical as finance minister, so I will, when we discuss it eventually in cabinet, in caucus, I will present my analysis to my colleagues.’ Earlier, Flaherty said the measure needs ‘a long, hard, analytical look’ by experts ‘to see who it affects in this society and to what degree. Because I’m not sure that overall it benefits our society.'” Read the full article here. | Raymond Matt, CFP, CLU, TEP, CHS  

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