Cut income taxes by 2.25% for the lowest tax bracket (between $16,000 and $57,000 a year). That’ll save the average two-income family about $1,800 a year. Annual cost in federal tax revenue: $7 billion to $14 billion.
Defer capital-gains tax if proceeds are reinvested in Canadian companies between July 2025 and December 2026.
Allow Canadians to invest an additional $5,000 annually into their TFSAs if they invest that money in Canadian companies.
Liberals:
Cut income taxes by 1% for the lowest tax bracket. Annual savings for an average two-income family: about $825. Annual cost in federal tax revenue: $5.9 billion.
Expand the National School Food Program to reach more children and develop a food-security plan for Northern communities.
Reform the Disability Tax Credit application process, and look at expanding eligibility.
NDP:
Eliminate income taxes on all earnings below $19,500, and lower the untaxed amount for Canadians who earn more than $253,414 (meaning Canadians who earn more than that will pay more). Annual savings for an average two-income family: about $1,450. Annual cost in federal tax revenue: $10 billion.
Create an “emergency price cap” on grocery staples.
Waive General Sales Tax (GST) on essentials like diapers, internet service, and home heating.