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•T h e IF P • H alto n H ills, Thursday, July 17, 2014 7 • Truck Accessories • Upholstery • Heavy Equipment Glass •Window Tinting 354 Guelph Street, Georgetown 905-873-1655 We handle all insurance work. • your window & door professionals • 341 Guelph St., Unit 3 Georgetown 905.873.0236 www.buy-wise.ca info@buy-wise.ca • awarded readers choice 22 times • Visit our showroom Arleen got 10 car insurance quotes in just a fewminutes. Who knew it could be that easy? The simple way to shop for insurance. COMMENT Tax cuts benefit families Since 2005, federal tax cuts have resulted in a significant reduction in the federal taxes that Canadians pay. In a report released on May 27, 2014, the Parliamentary Budget Of- ficer (PBO) found that Canadians are paying $30 billion less in federal taxes this year-- or a little under $1,000 per person-- compared to 10 years ago. The PBO report examined tax changes between 2005 and 2013 for two of the three largest components of federal tax revenue: personal in- come taxes and the HST. The report con- cluded that Canadians are now paying $30 billion less in federal taxes ($17.1 billion less in federal income tax and $13.3 billion less in HST) this year com- pared to 2005, a result of federal tax cuts. As a result, each Ca- nadian will pay an av- erage of almost $1,000 less in federal taxes this year compared to 2005. A typical Canadian family of four is now saving nearly $3,400 in fed- eral taxes each year compared with 10 years ago. Through the introduction of tax measures such as the Universal Child Care Benefit, Family Caregiv- er Benefit, Child Tax Credit, Chil- dren's Fitness Credit, Registered Disability Savings Plan, Tax Free Savings Account, pension income splitting for seniors and increasing the amount Canadians can earn without paying tax, the government has helped Canadians save more of their take-home pay, benefitting middle-income individuals and families the most through a four per cent increase in after-tax income. Furthermore, to assist low-in- come households, the introduction of the Working Income Tax Benefit has provided a refundable tax credit for individuals with an earned in- come in excess of $3,000. This tax credit provides $925 for single in- dividuals without dependents and $1,680 for couples and single par- ents and continues to increase each year at the rate of inflation. The Working Tax Income Benefit, along with the two point reduction in HST, has played a significant role in reducing income inequality across the country. Despite global eco- nomic sluggishness, Canada has seen strong economic growth. Since the peak of the reces- sion, 1.1 million jobs have been created, with more than 80 per cent of those jobs in the private sector and two-thirds in high-wage industries. As a result, the net worth of Canadian families has increased over 44 per cent over the last 10 years, resulting in one of the most affluent middle classes in the world. These tax reductions have been implemented in a fiscally respon- sible manner. In fact, the federal government is on track to balance its budget and return to surplus over the next number of months. This accom- plishment will make Canada one of the first major economies to return to budgetary surplus. This milestone will provide fur- ther support to our plan to foster strong, sustainable, long-term eco- nomic growth. To find out more information on the government's tax reductions and available tax credits and benefits, please visit: http://goo.gl/bChZVm --Michael Chong is the MP for Wellington-Halton Hills MICHAEL CHONG The way we were This is an image of Mr. Morrison's class from Secondary School No. 6 Stewarttown Public School in 1891. The school moved into its current structure in 1965. Photo courtesy of Esquesing Historical Society/information supplied by Heritage Halton Hills School days 'It was a whole vibe of just hanging out with friends...' --Beatrice Sharkey... see story pg. 5 This is the baritone soloist of the Melbourne Sealions Chorale. He was practis- ing for an upcoming show the choral was planning for near Melbourne, Aus- tralia. Resident Don Parker caught the action. Got a photo you want to share? Email: cgamble@theifp.ca WHAT A SHOW-OFF From our readers 'Quote unquote'