Lower Taxes

Liberals have been staunch proponents of a high tax, high spend trend. With the costly carbon tax, they made it harder for Canadians to eat, heat, and house themselves. Worse, Liberals hiked the capital gains tax—targeting workers, doctors, small businesses, farmers, and homebuilders.  

 

Now they’re trying to play a trick just in time for an election, temporarily pausing these measures to fool Canadians into giving them a fourth term. But make no mistake, if they win, Liberals will continue to eat away at your paycheque, bit by bit.

 

It’s clear that Canadians can’t afford any more tax increases. Just in 2024, the average Canadian family earned an income of $147,570 and paid about 45% of that – $65,766 – in taxes. In other words, the average family would have to work until June 13th before money started going into their pocket instead of to the government.

 

Conservatives believe that you should get to keep more of your hard-earned money. We’ll repeal Canada’s carbon tax law for everyone, for real, and for good, while also permanently reversing the Liberals job-killing capital gains tax hike on Canadians.

 

Conservatives will cut income tax by 15%, dropping the tax rate on the lowest income tax bracket from 15% to 12.75%, meaning the average Canadian worker earning $57,000 will save $900, with two income families saving $1,800 a year. It’s time to let Canadians keep more of what they earn.

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We will also reward patriotic Canadians who invest in our country by increasing the TFSA limit by an extra $5,000 for investments in Canadian companies. The existing $7,000 limit would remain, but Canadians will now be able to contribute up to an additional $5,000 a year if that money supports Canadian companies that employ Canadian workers and pay Canadian taxes.

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A Conservative government will create a definition that lets financial institutions and advisors label which stocks, mutual funds and other investments can go into your Canada First TFSA Top-Up. The Canada First TFSA is about boosting Canadian businesses and unleashing our economy so that we can stand up to Trump from a position of strength.