Media Advisory - Grant Thornton National Tax Leader Available to Breakdown the Financial & Tax Implications of Each Political Party's Election Promises

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Grant Thornton LLP

Oct 19, 2015, 07:00 ET

TORONTO, Oct. 19, 2015 /CNW/ - With the final results of the federal election just hours away, many Canadians want to know: how will each party's platform affect their wallets or their businesses? Some election promises are straightforward, but others could significantly impact the amount of taxes Canadians and private businesses can expect to pay going forward.

WHO & WHAT: National Tax leader from Grant Thornton LLP, Keith MacIntyre is available to discuss the top tax-related priorities for the main three political parties (highlighted below), as well as the financial implications for Canadians and private businesses:

Conservative Party of Canada

  • Increase in annual TFSA contribution limit to $10,000
  • Family Tax Cut (income splitting)
  • Enhanced Universal Child Care Benefit (UCCB)
  • Small business rate being reduced from 11% to 9% by 2019

Liberal Party of Canada

  • Abolishment of UCCB and new Canada Child Benefit
  • Tax cuts for middle class – new top tax bracket for incomes greater than $200K
  • Reduce TFSA limit back to $5,500
  • No plans to increase general corporate tax rate

New Democratic Party (NDP)

  • New national child care program
  • Reduce TFSA limit back to $5,500
  • Increase general corporate tax rate to 17 per cent
  • Supports reduction in small business rate from 11% to 9%

WHEN: Keith is available today (Election Day), tonight or tomorrow (after the election) for interviews. 

About Grant Thornton LLP in Canada
Grant Thornton LLP is a leading Canadian accounting and advisory firm providing audit, tax and advisory services to private and public organizations. We help dynamic organizations unlock their potential for growth by providing meaningful, actionable advice through a broad range of services. Together with the Quebec firm Raymond Chabot Grant Thornton LLP, Grant Thornton in Canada has approximately 4,000 people in offices across Canada. Grant Thornton LLP is a Canadian member of Grant Thornton International Ltd, whose member and correspondent firms operate in over 100 countries worldwide. A listing of Grant Thornton offices and contact information can be found at: www.GrantThornton.ca

SOURCE Grant Thornton LLP

Heather McCulligh, 613-292-9252, [email protected]

Organization Profile

Grant Thornton LLP

Grant Thornton LLP is a leading Canadian accounting and advisory firm providing accounting, audit, tax and advisory services to private and public organizations. We help dynamic organizations unlock their potential for growth by providing meaningful, actionable advice...