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Originally Posted by malcolmk14
So the $48 million that the Globe and Mail threw out there wasn't anywhere near accurate.
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From yesterday's Edmonton Journal.
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In 2008, about 40 per cent of the province's 2.25 million eligible voters cast ballots. If they all voted and got $50 each, it would cost $112.5 million, which the Liberals say is a tax credit, not a new expenditure.
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Read more:
http://www.edmontonjournal.com/news/...#ixzz0nuZKeW00
It seems the distinction between a normal tax credit and what they are proposing is that it is a "refundable tax credit". Normally tax credits are "non-refundable" and only used to reduce your tax payable by a calculated percentage.
I'm not familiar with any other refundable TC in Alberta. So I don't have an example to compare it to. Maybe some our PC accountants are familiar with other provinces could shed some light on this. I am beginning to get the impression the full $50.00 would be refunded to individuals regardless of whether or not they have taxable income.
Oh and for a comical look at the Liberal 12-Step program....
http://www.corymorgan.com/?p=457