Windfall Timing Curious

Now the Federal Govt. annoys me.

"In what’s billed as the biggest one-time benefit payout in federal history, a windfall worth almost $3 billion is being mailed out to day as the Conservative government hikes the universal child care benefit just three months before an election.
The increased payments are retroactive to the start of the year, meaning the payments this month will be higher than any before: Up to $520 for children under six, and up to $420 for every child six to 17.



http://www.lfpress.com/2015/07/19/it...ederal-history

Vote buying is not a new thing and the way I see it, at least it's going to kids and not to a stupid 2 billion dollar long gun registry.

This has been "in the works" for over a year. The mad scramble is on to beat the election because the government knows it will be quickly cancelled (Mulcair and Trudeau are on record) in the event one of them wins this upcoming election.

And the best part is half of that goes back to the government in income tax... and then 13% in hst. That's churn.

The child tax benefit isn't welfare. It's not taxed.

My tax returns and this disagree:

"The UCCB was introduced in 2006 as a taxable benefit designed to help Canadian families, as they try to balance work and family life, by supporting their child care choices through direct financial support.

On January 1, 2015, the UCCB was expanded to include a new benefit for children aged 6 through 17, and the payments that parents receive for children under the age of 6 were increased."

http://www.cra-arc.gc.ca/uccb/

Exactly at least it isn't some more gas plant fiasco's costing billions sitting idle rotting to the ground. Good on the Conservatives well done !

The motive is pretty obvious. But when a politician gives families money back instead of dreaming up countless new ways to tax more out of them, well I'm good with that. They are returning money to working families.

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Originally Posted by terrym

The motive is pretty obvious. But when a politician gives families money back instead of dreaming up countless news to tax more out of them, well I'm good with that. They are returning money to working families.

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Bang on terrym. Couldn't agree more. However some seem to prefer rescinding any and all breaks give to us working stiffs asap. Raise taxes asap, tax food, fuel and pretty much any daily necessities we require, aka "carbon tax ". Go figure??!!! I give up.

Quote:

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Originally Posted by trimmer21

This has been "in the works" for over a year. The mad scramble is on to beat the election because the government knows it will be quickly cancelled (Mulcair and Trudeau are on record) in the event one of them wins this upcoming election.

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Some will be surprised to see what they owe in taxes in April. :)

Mulclair said to night that he would not cancel it, but add to it by providing many more subsidized daycare spots. Trudeau said he would not cancel it but only provide to "those who really need it".

Folks on welfare or a disability income - with children- do not qualify for the UCCB ( Universal Child Care Benefit) taxable - $100.00 per child under 6 and $60.00 more for each child up to age 17. They read these great announcements and carry on with what they have.

They receive the CCTB( Canadian Child Tax Benefit) which is tax free.( $122.68 per child up to age 18)

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Originally Posted by Sharon

Some will be surprised to see what they owe in taxes in April. :)

Mulclair said to night that he would not cancel it, but add to it by providing many more subsidized daycare spots. Trudeau said he would not cancel it but only provide to "those who really need it".

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They don't have much choice,but,they've amply demonstrated that neither can be trusted. How could they villify the Conservatives on this issue then be quoted on the record that it wasn't fair to all Canadians when,in fact,the exact opposite is true and there for all to see. I can't wait to see the back track and spin that comes out of this. The Conservatives have them right where they want them.

Love that new avatar Trimmer. :)

I think it is great. Even though it is your own money you are getting back. Bravo for the Cons.

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Originally Posted by Sharon

Love that new avatar Trimmer. :)

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Bin there,dun that,so,it kinda struck a nerve. It's funny,now,but,it sure wasn't way back when...........LOL

Heard on the radio, don't know if it was an attack ad or a quote from the opposition, that this money will only go to those living in Conservative ridings. :P

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Originally Posted by kickingfrog

And the best part is half of that goes back to the government in income tax... and then 13% in hst. That's churn.

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Quote:

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Originally Posted by terrym

The motive is pretty obvious. But when a politician gives families money back instead of dreaming up countless new ways to tax more out of them, well I'm good with that. They are returning money to working families.

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I'll chime in here now as well.
Exactly Terry, yes obviously vote buying. At least everyone with kids benefits...aka the working stiffs and peons...and not just a few, or special interest/lobby group.

Ever heard of banking the windfall KF. You only lose consumer taxes, if you spend it......

Maybe park it in a TFSA? Tax free?
Maybe park it in a RSP and get even more back so that hopefully one day, you too can retire?
Maybe an RESP for the kids Post cost, and get even MORE?
Mybe Pay down some debt and save interest
Foreign concept I know.Not sure why you wouldn't think of those, can only guess you don't need them?

How's the view from the bow?
Think maybe the two at the stern could use it given the times?

I have a strong dislike for vote buying - but this comes across as a great idea compared to the provincial liberals vote buying - gas plants, teacher union raises, opp union raises - that are given to small groups that need it least.

Funny that eh Werner?

I am actually "good" with this given
The times
The state of the middle class/peons
The REAL need for people to start thinking about tomorrow, instead of just today.

Then again, consider what I do for a living, am licenced for.

Better the peons pockets than big brothers.

See statistics since the 60s.
See those who sit in the bow and don't realize those in the stern....

Need this
And isn't it funny how some, many in this thread didn't see or think about
The need for people to reduce debt. Or
RSPs or TFSAs, or RESPs or the peons, just like the Ontario Liberals and those who....

And one last (hopefully) thought.

With respect to "churning" and Ponzi schemes and the beneficiaries of vote buying.

Even if everyone (the majority anyways) spends every penny, KF.

Something um people (the left ) here don't seem to grasp. The more money the peons have in their pockets, the more they spend, which does what? Ah yes, helps the economy. Which does what? Why, it helps everyone including big brother.

When you take it from them, only a few benefit.

Quote:

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Originally Posted by JBen

Funny that eh Werner?

I am actually "good" with this given
The times
The state of the middle class/peons
The REAL need for people to start thinking about tomorrow, instead of just today.

Then again, consider what I do for a living, am licenced for.

Better the peons pockets than big brothers.

See statistics since the 60s.
See those who sit in the bow and don't realize those in the stern....

Need this
And isn't it funny how some, many in this thread didn't see or think about
The need for people to reduce debt. Or
RSPs or TFSAs, or RESPs or the peons, just like the Ontario Liberals and those who....

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We raised three kids in a pretty average working class family. I banked each of their child tax benefits and began RESPs for each of them when that program started. I have one finished college, one in university and one ready to go next year. I have not nor will I have to pay any tuition for any of my three kids. I think it can work out pretty well if you plan it.

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Originally Posted by flowerjohn

We raised three kids in a pretty average working class family. I banked each of their child tax benefits and began RESPs for each of them when that program started. I have one finished college, one in university and one ready to go next year. I have not nor will I have to pay any tuition for any of my three kids. I think it can work out pretty well if you plan it.

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I agree,absolutely. Our kids did exactly the same thing. Now,that their kids are hitting College and University,they can't believe how much it takes the edge off the bank account shock. It seems,though,that paying one's own way and taking responsibility for oneself is a completely foreign concept to the liberal-minded set.

Quote:

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Originally Posted by flowerjohn

We raised three kids in a pretty average working class family. I banked each of their child tax benefits and began RESPs for each of them when that program started. I have one finished college, one in university and one ready to go next year. I have not nor will I have to pay any tuition for any of my three kids. I think it can work out pretty well if you plan it.

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If this were Facebook I'd hit the
/love this comment

And just imagine you did it all on your own, with no help or OAS from big brother, saving all the other peons...um sorry...taxpayers....having to pay your way.

I will add that the kids had to make compromises too. We live in Toronto and thus they are required to stay at home for post secondary. As I put it to them, there's no need to spend an extra fifteen or twenty thousand per year to live in another city just to get away from the family. We have perfectly good schools within a thirty minute bus ride from home. I don't get this I'm going to western thing or I'm going to queens. If you get into grad school great. But there's no need to pay for your kids to go away to party. I know, pretty backward assed conservative

Quote:

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Originally Posted by werner.reiche

I have a strong dislike for vote buying - but this comes across as a great idea compared to the provincial liberals vote buying - gas plants, teacher union raises, opp union raises - that are given to small groups that need it least.

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Truer words have never been spoken Werner. Well said. Now let's wait for the wailing, crying, jaded spin that's sure to follow from" you know who" , which is all but inevitable!!!

Quote:

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Originally Posted by flowerjohn

I will add that the kids had to make compromises too. We live in Toronto and thus they are required to stay at home for post secondary. As I put it to them, there's no need to spend an extra fifteen or twenty thousand per year to live in another city just to get away from the family. We have perfectly good schools within a thirty minute bus ride from home. I don't get this I'm going to western thing or I'm going to queens. If you get into grad school great. But there's no need to pay for your kids to go away to party. I know, pretty backward assed conservative

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I had trouble figuring the need to "go away" to university too. I live within 40 minutes of Ottawa U and Carleton U. My eldest went to Guelph (Biomed eng) - that was hard to argue with as the biomed eng programs at Carleton and and U of O are pretty poor - only offered to keep up with the other Ontario universities. My younger daughter is going to Queens in September (electrical eng) - she could have done that at U of O.

Because of where I live my kid pretty well had to leave home to go to University. Commuting just wouldnt work many times with the crazy schedules they have. The leaving home thing is not all bad though. It's another part of growing up and learning how to budget and live within your means. She actually came home with money in the bank but she doesn't drink. Her roommates were broke by January because of partying. Travel and commuting isn't cheap either. She would have had to take the GO train and then the TTC. Almost a 2.5hr run each way.

I think it's a decision you make based on where you live and what program your kid needs. In my case living in Toronto it worked out ok. Cheers.