A New Dennis King Progressive Conservative Government Will: 

• Raise the Basic Personal Tax Exemption to the national average of $12,000 and tie future increases to the Consumer Price Index to address bracket creep. This will directly benefit 84,000 Island taxpayers, remove 5,000 low-income Islanders from provincial tax rolls and provide an average of $280 in annual tax savings.
  
  
• Increase the base amount of the Low Income Tax Reduction program from $17,000 to $20,000.This targeted measure will directly benefit 12,000 low-income Island taxpayers and return an average annual savings of $150.
  
  
• Lower the Small Business Tax Rate to 1% by January 2020.This will improve competitiveness for Island businesses by creating the lowest tax rate for small business in Atlantic Canada.

NEWS RELEASE: 

Helping Islanders improve their quality of life by keeping more of their hard-earned tax dollars is the first of a series of economic policy proposals released today by PC Leader Dennis King.

“Listening to Islanders what I hear is that Islanders are working hard to get ahead but are just getting by. We need to change that reality and that’s the idea behind what we are proposing today,” says King. 

King announced the following measures will be implemented by a new Progressive Conservative government:

• Raising the Basic Personal Tax Exemption to the national average of $12,000 and tie future increases to the Consumer Price Index to address bracket creep. This will directly benefit 84,000 Island taxpayers, remove 5,000 low-income Islanders from provincial tax rolls and provide an average of $280 in annual tax savings.
• Increase the base amount of the Low Income Tax Reduction program from $17,000 to $20,000.This targeted measure will directly benefit 12,000 low-income Island taxpayers and return an average annual savings of $150.
• Lower the Small Business Tax Rate to 1% by January 2020.This will improve competitiveness for Island businesses by creating the lowest tax rate for small business in Atlantic Canada.

“When people and small businesses keep more of the money they earn that helps us all. They can better support families, invest and build for the future. That’s how we’ll get ahead together and share in our prosperity more fairly,” says King.

King indicated that further details from the party’s platform will be shared in the coming days.