The Parliamentary Budget Officer recently published a new report which found that Justin Trudeau’s plan to tax employer-provided health benefits will cost Canadians $2.8 billion in personal income taxes.
When the Liberals implement their plan to tax employee health benefits, it will result in:
• Families receiving $317 million less in Canada Child Benefit payments
• Low income Canadians receiving $35 million less through the Working Income Tax Benefit
• Seniors losing $47 million in Old Age Security and $27 million in Guaranteed Income Supplement payments
• Working Canadians paying $532 million in additional CPP contributions.
To view the Parliamentary Budget Officer’s full report please visit: http://www.pbo-dpb.gc.ca/en/blog/news/Employer_paid_health_benefits