Heading into the 2015 election season, the Harper government recently unveiled a bundle of what have been referred to as "family-focused" tax cuts. However, with several figures and complex lingo to sift through, many families across Canada are wondering what types of families these policies are going to benefit and how.
The plans are worth approximately $4.6 billion annually and incorporate income-splitting for families with children under 18. Firstly, the Universal Child Care Benefit will increase from $60 per month to $160 per month for youth under six years old. If your child is aged 7-17 your benefit will be $60.