$1,300 income-sharing tax break for families with children under 18

On March 28, while campaigning in Vancouver, B.C., Stephen Harper promised to allow families with children under 18 years of age to share up to $50,000 of household income. For example, under Harper’s plan, two parents earning $60,000 and $20,000 each would pay the same amount of tax as two parents earning $40,000 each. But there’s a catch: the ‘Family Tax Cut’ would not be implemented until the deficit is eliminated, which the Conservatives say won’t happen until 2015.

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