Sheridan says no increase to income tax exemption

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Islanders looking for an income tax break will have to wait after Finance Minister Wes Sheridan said he won’t increase the personal income tax exemption.

Finance Minister Wes Sheridan

He was responding to questions from Stratford-Kinlock MLA James Aylward in the legislature today where Aylward asked him to commit to raising the exemption.

Sheridan said he doesn’t think the personal income tax exemption is the best place to use tax dollars because people like himself would benefit when they don’t need it and there are better places to give Islanders tax relief.

“There’s a much better way to better focus those savings,” he said.

Aylward said the government tied all of its fee increases to the consumer price index, which left Islanders poorer, while Sheridan refused to increase the tax exemption.

“It would be the simple way out. It would be the good thing to do,” Aylward said.

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Recent comments

    December 05, 2013 - 15:34

    Why would he give something to the people. We are the highest taxed in North America and see no change as long as this man is in office.Furthermore that would mean less money for the bank accounts of the rich and greedy of PEI. Check the smug arrogant face in the photo and you know what you get from this person. NOTHING.