TAX INCENTIVES FOR NEW GRADUATES
HUGHES SUPPORTS TAX INCENTIVES FOR NEW GRADUATES IN RURAL COMMUNITIES
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OTTAWA
– Algoma-Manitoulin-Kapuskasing MP Carol Hughes stood in the House of Commons yesterday to indicate her support for a bill that would provide tax incentives to new college and university graduates which could, in turn, be beneficial to businesses in designated regions.
Bill C-288 will amend the Income Tax Act to give new graduates who settle in designated areas a tax credit equal to the lesser of either 40 per cent of the individual’s salary or wages, $3,000, or the amount by which $8,000 exceeds all amounts paid for a preceding tax year.
“In my riding of Algoma-Manitoulin-Kapuskasing, there are many rural communities,” Hughes stated in the House of Commons. “The fact that many of the youth decide to move to larger cities poses a huge problem. By studying this bill closely and supporting it, we can ensure that our communities will survive, and we can offer more opportunities to youth.”
“Youth out-migration has been problematic for the rural areas within the Algoma-Manitoulin-Kapuskasing riding,” Hughes said. “This should help to provide incentives for new graduates to return to their home towns and should help to build stronger communities across Northern Ontario.”
For further information, please contact: Jamie Burgess, Office of Carol Hughes, 613-996-5389 613-996-5389 613-996-5389 613-996-5389
Links in this press release to Bills and Tax Act added courtesy of www.OntarioNewsNorth.com
