Mr. Speaker, I rise today to present a petition from residents of Skeena—Bulkley Valley, including Sandy Knowles of Kitimat and Karen Sage of Terrace, with whom I met a couple of weeks back.
The petitioners wish to draw attention to the inequitable treatment of single seniors under the Income Tax Act. They highlight that income splitting rules allow couples to split their pension income, claim double non-refundable tax credits, transfer certain unused credits to a spouse and, when one partner dies, transfer retirement savings to the living spouse. Single seniors have none of these options available to them, putting them at a significant financial disadvantage.
The petitioners urge the government to introduce several measures specifically for single seniors, including a new tax credit, an increase to the pension income amount, an increase to the OAS clawback thresholds and an amendment to the tax treatment of registered retirement plans upon death. The petitioners eagerly await the government's official response.