Canada sets C$26.8 bln in family tax cuts, benefits over six years

Thu Oct 30, 2014 3:40pm EDT
 
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VAUGHAN, Ontario Oct 30 (Reuters) - Canadian Prime Minister Stephen Harper unveiled on Thursday family tax cuts and benefits totaling C$26.76 billion ($23.89 billion) over six years, including C$3.07 billion for the fiscal year that ends next March and C$4.62 billion for 2015-16.

The package includes income splitting for couples with children under 18, providing for the transfer of C$50,000 of income for tax purposes from the spouse with more income to the one with less income.

It also provides for an expansion of the Universal Child Care Benefit and a further increase under the Child Care Expense Deduction.

($1=$1.12 Canadian)

(Reporting by Alastair Sharp; Writing by Randall Palmer; Editing by Jeffrey Hodgson)