I am attaching a list of how all provinces, except Quebec, deal with personal exemptions including basic and age.
This continues to be an issue in P.E.I. This province is on the bottom when it comes to income tax. The basic personal exemption for P.E.I. is the lowest in Canada. Our closest neighbour of New Brunswick has $1,680 higher exemption than P.E.I.
Residents in P.E.I. have less than half the personal exemption of Saskatchewan and Alberta. I realize they are richer provinces but half is a way too big of a difference.
The 65 age exemption in P.E.I. is only higher than Manitoba who also has a personal exemption $1,176 higher than P.E.I. With the number of people in P.E.I. on a low income, this is an insult to an already struggling segment of our population.
I have heard the minister say that a change in the exemption will not amount to much of a change for individuals but cost the government a lot. This is a poor excuse for doing nothing.
We continue to slide further and further behind in this province due to over taxation and overspending on the part of government.
The bold act by government of attaching cost of living increases to government fees is a way to do more hidden taxes. How can government justify this type of taxation yet deny a cost of living increase to basic and age tax exemptions?
A change is long overdue.
Personal and age exemptions for income tax 2013
P.E.I. basic exemption - $7,708, Age 65 exemption - $3,764 for income less than $28,019
Newfoundland and Labrador basic exemption - $8,451, Age 65 exemption - $5,395 for income less than $29,563
Nova Scotia basic exemption - $8,481, Age 65 exemption - $4,141 for income less than $30,828
New Brunswick basic exemption - $9,388, Age 65 exemption - $4,584 for income less than $34,124
Ontario basic exemption - $9,574, Age 65 exemption - $4,674 for income less than $34,798
Manitoba basic exemption - $8,884, Age 65 exemption - $3,728 for income less than $27,749
Saskatchewan basic exemption - $15,241, Age 65 exemption - $4,643 for income less than $34,562
Alberta basic exemption - $17,593, Age 65 exemption - $4,903 for income less than $36,497
British Columbia basic exemption - $10,276, Age 65 exemption - $4,421 for income less than $32,911
Northwest Territories basic exemption - $13,546, Age 65 exemption - $6,626 for income less than $34,562
Nunvit basic exemption - $12,455, Age 65 exemption - $9,341 for income less than $34,562