Office of the Parliamentary Budget Officer (PBO) releases interactive tool

The PBO recently released an interactive online tool that estimates the financial impact on families as a result of some of the changes to the tax system that were introduced by the government in Budget 2016.  Some of these changes included under Bill C-2 include the following:

• Changes to personal tax rates;
• Replacement of the Universal Child Care Benefit and the Canada Child Care Benefit with a new Canada Child Benefit;
• Enrichment to the Guaranteed Income Supplement and Charitable Donation Tax Credit; and
• A new refundable School Supply Tax Credit for teachers.

Keep in mind, the tool is intended only for informational purposes, and does not include the financial impact of other credits such as the disability tax credit or caregiver credit.  However, based on the input, the tool will calculate the changes in household disposal income as a result of the tax measures introduced in Budget 2016.  You may find the tool at http://www.pbo-dpb.gc.ca/en/2016_tax_changes.