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By CKPG Today

Seniors

Seniors lobby for tax fairness

Apr 15, 2024 | 6:39 AM

PRINCE GEORGE — Single Seniors for Tax Fairness (SSTF) are lobbying for tax fairness.

They are advocating for fairer and more equitable tax treatment for single seniors including widowed, divorced, separated and lifetime singles 65+.

“Single seniors pay more tax on similar or lower household income compared to couples, while paying virtually the same non-discretionary household expenses such as mortgage/rent, property tax and insurance, condo fees, utilities, etc,” according to a news release.

They add that couples can take advantage of pension income splitting to reduce their tax payable while lowering their net incomes to avoid or minimize the clawbacks of Old Age Security (OAS) and the Age Amount Tax Credits.

Here are some examples based on the 2022 taxation year:

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Image courtesy: SSTF

SSTF has proposed a few ideas in its pre-budget submission to the Finance Committee including a new non-refundable tax credit for single seniors equivalent to half of the personal amount for the applicable taxation year and higher income clawback brackets for Old Age Security and the Age amount tax credit for single seniors.

SSTF would like to hear back from seniors who feel they’re being overtaxed. You can send your thoughts to: singleseniorstax@gmail.com.