Ontario’s Government for the People is proposing one of the most generous Ontario tax cuts for low-income workers in a generation — the Low-income Individuals and Families Tax (LIFT) Credit.
The LIFT Credit would, if passed, benefit 1.1 million people across the province. It would provide low-income and minimum wage workers up to $850 in Ontario Personal Income Tax relief and couples up to $1,700.
With this tax relief, a single person who works full time at minimum wage (earning nearly $30,000) would pay no Ontario Personal Income Tax. Tax relief would be gradually reduced for taxpayers with individual incomes greater than $30,000, and family incomes greater than $60,000.
One in six Ontario taxpayers would get the LIFT Credit and, on average, would receive about $450 in tax relief. The tax credit would be effective January 1, 2019.
Ontario’s Government for the People is committed to helping taxpayers keep more of their hard-earned money. Every single dollar of this credit is targeted to low-income workers.