Archived - Government Tables Notice of Ways and Means Motion to Implement Tax Relief Measures
October 20, 2014 – Ottawa, Ontario – Department of Finance
The Government today tabled in the House of Commons a Notice of Ways and Means Motion to implement tax measures from Economic Action Plan 2014, as well as other measures.
Today's Notice of Ways and Means Motion includes the same measures tabled on October 10, 2014, in addition to a new measure that amends the trust loss restriction event rules to provide relief for investment trusts that meet specific conditions.
- From 2008–09 through 2013–14, the Government has delivered tax reductions totalling more than $60 billion to job-creating businesses.
- According to KPMG, total business tax costs in Canada are now the lowest in the Group of Seven (G-7) and 46% lower than those in the United States.
- Personal income taxes are now 10% lower with the tax relief provided by the Government since 2006. For an average family of four, taxes have been cut by close to $3,400.
- Once the federal budget is balanced, the Government’s first priority will be to provide further tax relief to hard-working Canadian families.
Office of the Minister of Finance
Department of Finance
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