Canada to Help Families

Trisha Butterworth
March 27th
6:00 pm

In Toronto Canada, the government is sending one thousand dollars to all households in the area that make less than $160,000 a year. To also help they are not going to add the 8% PST tax to children’s clothing, car seats, feminine products, diapers, and homes under 400,000 thousand dollars. The goal is to help the families of the area, especially those who have been struggling due to the economy. The hope with the thousand dollar bonus is that families will go out and spend the money to help boost the economy. To add to this provision, they are going to accelerate the Ontario Child Benefit to a max of $1100 per child. The only downside to the provisions and trying to harmonize PST and GST taxes, the taxes on such things as home heating and energy will have to be increased. Also, if you do buy a house over $400,000 , the taxes are going to be over $30,000 due to the tax increases. It’s bad timing say many people.
I think the idea of helping families and the economy is good, but they way Toronto is going about it may not be the best way. A thousand dollars is also not the much, especially if families are struggling that much. Also, with the benefits come the increases in other taxes which are not going to help anyone. I just wonder how much damage this is going to do to all the families in Toronto. Hopefully it will work out better than it seems and actually help families get out of the debt hole.