Budget: Let's tell the full story

Seniors will see their taxes lowered, permanently. The price of many of the goods you buy will go down, permanently. The vendors who sell to you will see their own business costs and taxes go down, permanently. This will lead to competition for your business, and lower prices. It has happened everywhere that has moved to the simpler and fairer value-added tax like the Single Sales Tax, and away from the complex, inefficient, expensive and outdated retail sales tax.

Making a difference for seniors

• Since 2003-04, Ontario has invested more than $13.5 billion in health care and hospitals, including Phase II at Credit Valley Hospital, now more than halfway complete, more doctors, a new Family Medicine Teaching Unit at Credit Valley, and three new linear accelerators for cancer treatment at Credit Valley;
• The 2009-10 Ontario Budget increases unlocking from Ontario life income funds from 25 percent to 50 percent;
• Beginning this year, Ontario has granted a two-year waiver of fees for financial hardship unlocking applications;
• Many of the essential products seniors purchase will be exempt from Ontario sales tax. Read the Ontario Budget for a full list of exempt items.

Getting in step with the world

• Some 130 OECD countries already have a value-added tax on sales transactions for goods and services similar to the proposed Single Sales Tax;
• In Canada, six provinces: Newfoundland, Nova Scotia, New Brunswick, Quebec, Ontario and British Columbia have already implemented the Single Sales Tax, or will on July 1, 2010. Manitoba is considering it;
• No country in the world that has moved away from the expensive, inefficient, complex and outdated retail sales tax has ever gone back to it;

Facts: Lower taxes benefit seniors

• The Senior Property Tax Grant is doubled, from $250 to $500 per year;
• A new, refundable property tax credit benefits low- and middle-income seniors, including seniors on fixed incomes, and especially including renters;
• A new refundable sales tax credit, will benefit low- and middle- income seniors. You will qualify for a rebate of as much as $260 per year;
• Ontario will make transitional payments of $1,000 for families earning less than $160,000, and $300 for singles earning less than $80,000;
• An estimated 93 percent of Ontarians will pay less tax on the implementation of the proposed tax measures;
• Read the Ontario Budget and get the facts firsthand.

Get Info: Real talk, Single Sales Tax

• Ontario Ministry of Revenue web site;
• A senior's guide to tax reform;
• Toronto Star editorial on the proposed Single Sales Tax;
• Proposed tax savings in the 2009-10 Ontario Budget;
• Read the analysis by Sidler & Co, Chartered Accountants, a leading Meadowvale-based accounting firm on the budget and its impact;
• Letter from a senior on how Ontario treats seniors.

Date posted or revised: April, 2009