YOUR SPACE:
What will you do with your July 1 tax savings?
CBC News Viewpoint | June, 2006

As of July 1, 2006, most Canadians will have a little more money in their
pockets... Among the changes slated to take effect are:

    * A one-percentage point cut in the GST to six per cent.
    * A universal child-care benefit of $1,200 a year to parents for each
child under the age of six. (This will be taxable as income in the hands of
the spouse with the lower income.)
    * A tax credit for people who buy monthly or annual transit passes,
amounting to 15.5 per cent of the cost of the passes.
    * A slight increase in the basic personal exemption and a new $250
employment credit will mean you'll pay a little less income tax.
    * But you'll also pay slightly more income tax on the first $36,400 you
earn. The rate rises from 15 per cent to 15.5 per cent.

There are some good responses to this:
http://www.cbc.ca/news/viewpoint/yourspace/taxcuts.html

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