Yes.
Part of our reform would involve providing a tax credit in the amount of $10,000. That's 15% of $10,000, after all. In fact, it's a $10,000 tax abatement. It would be optional and would replace a very large number of credits and deductions. There would be six basic tax credits or deductions remaining, including for charitable donations, for the integration of corporate income tax, for the basic personal amount, for contributions to the Quebec Pension Plan, and for contributions to an RRSP. Everything else would be replaced by this $10,000 amount.
We have calculated that nine out of 10 taxpayers would be better off taking this $10,000 rather than any of the other options offered by the tax system. Lower-income families would benefit even more from this new $10,000 amount, because they often make less use of these special tax credits and deductions.