Starting New Years day 2010, 93 per cent of Ontario income taxpayers will see a permanent income tax cut.
“That means less provincial tax will be taken off your first paycheque of the year, and every paycheque after that. Millions of Ontarians will benefit, but the greatest benefit is that it’s part of a package experts say will create investments and jobs when our province needs it most.”
- Lou Rinaldi, M.P.P., Northumberland-Quinte West
It’s part of a comprehensive tax plan that will help create 591,000 jobs, cut personal income taxes and make our province more attractive for new business investment.
Ontario’s comprehensive tax package includes $10.6 billion in direct payments and permanent tax relief for the people of Ontario. It also includes a new, permanent Ontario Sales Tax Credit, an enhanced Ontario Property Tax Credit, cuts to corporate income tax rates and the merging of two sales taxes into a single harmonized sales tax to strengthen our economy.
As of January 1, the McGuinty government is cutting the first income bracket tax rate by one percentage point, from 6.05 per cent to 5.05 per cent. As a result, Ontario will have the lowest tax rate of all provinces on the first income bracket. An additional 90,000 lower income Ontario taxpayers will no longer pay any provincial personal income tax.
To help clarify this comprehensive tax plan, M.P.P. Rinaldi will be hosting a series of public information sessions across the riding, from 7:00-9:00 pm, as follows:
Wed., Jan. 13 - Port Hope Recreation Centre - 62 McCaul Street, Port Hope
Tues., Jan. 19 - Knights of Columbus Hall - 57 Stella Cresc., Trenton
Wed., Jan. 20 - Community Living Campbellford/Brighton - 65 Bridge Street, Campbellford
Thurs., Jan. 21 - Keeler Centre - 80 Division Street, Colborne
Tues., Jan 26 - Cobourg Town Hall - 55 King Street West, Cobourg
Thurs., Jan 28 - King Edward Park Community Centre - 75 Elizabeth Street, Brighton
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