Report C: THREE-YEAR ECONOMIC PLAN UPDATE

TABLE C2
TAX CUTS AND RATE FREEZES INTRODUCED SINCE 1995
TYPICAL SAVINGS FOR BRITISH COLUMBIA FAMILIES


Single Parent with
two young children
$30,000 family income

Two Parent family
with two children*
$55,000 family income



Full year savings

Full year savings


Income tax cuts $     $    
Basic rate reductions 74 190
Reductions due to federal increases to the basic personal amount 114 114
Reductions due to federal enhancements to tuition and education credits 216
Family Bonus 904
Rate freezes
ICBC rate freeze 70 70
BC Hydro rate freeze 20 20
University/College tuition freeze 552
Total savings 1,182 1,162
 
* Both children attending university.

 

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Copyright 1999: Queen’s Printer, Victoria, British Columbia, Canada