Rick Dykstra on Questions Passed as Orders for Returns

With regard to the tax reductions introduced by the government since the beginning of 2006, how much less in taxes could a retired couple over the age of 65 with combined income of $40,200 (with one spouse having a private pension income of $23,000, $11,490 in income from Canada Pension Plan and Old Age Security (OAS) payments, and the other spouse having an income of $5,710 in OAS payments) save as a result of: (a) the introduction of pension income splitting; (b) the increase in the age credit; (c) the increase in the pension income credit; (d) the reduction in the goods and services tax; (e) the increase in the basic personal exemption; (f) the reduction of personal income tax rates; (g) the increase in the refundable medical expense supplement, if eligible expenses are $2,000; (h) the introduction of the public transit tax credit, if the cost of a monthly pass is $42; (i) the increase in the maximum amount eligible for the spouse or common-law partner credit; and (j) the Tax-Free Savings Account?