Quote:
Originally Posted by FlamesAddiction
How is the middle class defined in Canada? I read something today that suggested it was individual income between $50,000/year and $500,000/year.
A lot of "middle class" families don't make enough money to worry about TFSAs because they have nothing to put in them, and because both parents work up to (but not over" the $50 floor, the income splitting doesn't do anything for them either.
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Then these families also have virtually no tax saving in the LPC tax relief for the 'middle class' plan, as it only starts to kick in on income over $45k.