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Finance committee This is the main reason why I would conclude that this tax credit is regressive, that it doesn't benefit low-income people who don't pay income tax.
May 15th, 2017Committee meeting
Dr. Nicholas Rivers
Finance committee That's right. There's a pretty big range of people who don't pay income tax.
May 15th, 2017Committee meeting
Dr. Nicholas Rivers
Finance committee That's right. With regard to efficacy, the study I did suggested that this is not that effective of a tax credit. The overall effect is quite small, 0.25 a percentage point increase in transit.
May 15th, 2017Committee meeting
Dr. Nicholas Rivers
Finance committee Sorry?
May 15th, 2017Committee meeting
Dr. Nicholas Rivers
Finance committee Right. It's a very small number.
May 15th, 2017Committee meeting
Dr. Nicholas Rivers
Finance committee Right. I'm not able to make a comparison. I haven't studied the other side of things, but I would say this doesn't look like that big of a bang for your buck to me.
May 15th, 2017Committee meeting
Dr. Nicholas Rivers
Finance committee Right. You can have an opinion.
May 15th, 2017Committee meeting
Dr. Nicholas Rivers
Finance committee The way I understand it, very simply, is that it will work out as a transfer from people with $37,000 to $123,000 income to people earning less than $37,000.
May 15th, 2017Committee meeting
Dr. Nicholas Rivers
Finance committee I don't know if I can pull that off the top of my head. Let's see.... The total number of claims is around 1.7 million.
May 15th, 2017Committee meeting
Dr. Nicholas Rivers
Finance committee This is a tax increase on the middle class.
May 15th, 2017Committee meeting
Dr. Nicholas Rivers
Finance committee Okay, I got you.
May 15th, 2017Committee meeting
Dr. Nicholas Rivers
Finance committee Yes. I have the numbers from the Department of Finance calculations here, using the Canada Revenue Agency claims, and they've analyzed who's claiming the tax credit and the amount of claims overall. They're finding that the lowest income people claim the tax credit less than tho
May 15th, 2017Committee meeting
Dr. Nicholas Rivers
Finance committee Thank you very much for inviting me to speak. I'm going to speak about the public transit tax credit. In the past couple of years, I've conducted research to try to understand the effectiveness of the public transit tax credit. Based on this research, as well as research conduct
May 15th, 2017Committee meeting
Dr. Nicholas Rivers