“

“The Terrace Standard, Wednesday January 25, 2006 - A11

uv

iberal tax cut remains
‘or next filing period —

[HE NEW. year means lower i income taxes, thanksto’ ° With the government’s’ Employment Insurance
‘Hre-election tax cuts brought in by the federal Liberals fund tacking up big surpluses in recent years, the
ust before the: government fell last November. _ payroll taxes for EI drop by about four per cent start-.
-A $500 increase in the basic personal exemption. ing in 2006. Employees now pay $1.87 per. $100 of.»
d a.decrease in. the bottom income tax.bracket insurable earnings, a.drop of eight cents, and em- |
rom 16 to 15 per cent are retroactive to Jan. 1,2005. _ployers pay $2.62, which is 1] cents less than’ in

further increase in basic personal exemption takes . 2005. b
ffect for. 2006, regardless of how the Jan. 23 vote ‘Williamson: points out that even “this small de-
urned out. _ crease won’t be seen on the bottom, line of pay-

For. a person. inaking an average income of cheques. The:EI reduction is cancelled ‘out by the
35,595, the retroactive changes will take $323 off Canada Pension Plan payroll tax, which i increases by
e income tax bill for 2005, according to calcula- ‘$50 this: year. ” :
ions released by the Canadian ‘Taxpayers’ Federa-

.

Hon. le Bigger pipeline wanted

“Federal tax reductions will give all taxpaying
manadians some relief in ‘O05 and ‘06, said John Wil-_ ENBRIDGE IS. talking about a bigger oil pipeline
iamson, the federal director of the CTF, “Lower i in- between Alberta and Kitimat then planned because
come. taxes and employment payroll taxes will give . of increased demand. -*
the average. taxpayer a net gain of $62 in 2006.” = —s—-«: The original proposal was for a. 30 inch line ca-
The CTF says Canadians are still grossly. over- pable of carrying up to 400,000 barrels per day but
faxed, with Ottawa recording multi-billion-dollar. that has now increased to 36 inches.: ;
surpluses and rolling out billions in new spending. - Also increasing in size is the company’s line to,
;. The taxpayer advocacy group estimates that in the - bring in condensate which is used to thin’ out the oil
last 25. years, average after-tax household incomes * for easier: movement through its oil pipeline. It was 7 an ’ baal
: ave increased only 3.8 per cent, while federal gov- 167 inches, but now will be. 20 inches. cs ee we Throw -
_ jernment revenues have jumped 372 per cent... The next step is to negotiate binding commitments °. = ey eet .
* The basic persona exemption, the amount any from shippers. Once that is achieved, “Enbridg e will SENTRAL 4
{individual can earn without paying income tax, is to “fivaregtatry application. . " dt, Nt el 4619 Lakelse Avenue, Terrace
rise by. $200 above the: inflation rate in 2006, mak- . : The project’ is also subject. to, completion of an | é | : a 2 Wy vm 638- 1900 « 1-888-325-6667
ing the, total exempt income just over $9,000. The’. environmental assessment and mitigation: plan plus, |fiecg 5 Eh “Ral § = Across from the Coast Inn of the West
. change will save the average taxpayer about $30 "| public.and consultations’ and: ‘agreements with’ First”: Re EB ge :
| jover the next year. on top ¢ of the 2005 tax cuts, : ; ee .

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