NB 1538
Dec. 8, 2006
FREDERICTON (CNB) - Support for the federal pension-income-splitting measure was announced today by Finance Minister Victor Boudreau.
Boudreau said that couples with pension income in New Brunswick will also be able to split eligible pension income for provincial tax purposes effective for the 2007 taxation year.
"This measure will provide a significant amount of tax relief to couples with pension income by permitting the higher-income spouse to allocate up to 50 per cent of the pension income to the other spouse, which is taxed at lower rates," Boudreau said.
"Our government is pleased to support these federal changes, and we estimate that 47,000 New Brunswickers with pension income will benefit from these new tax measures. These changes will provide approximately $10 million annually in provincial income tax relief to couples with pension income."
06/12/08
MEDIA CONTACT: Vicky Deschênes, communications, Finance, 506-453-2451.
06/12/08