e-3 (Tax system)
- Keywords
- Tax Free Savings Account
- Taxation
Original language of petition: English
Petition to the Minister of Finance
- About half of adult Canadians currently have Tax Free Savings Accounts (TFSAs), which is a very high level of participation in a program that has only been available since 2009. Of those TFSA holders who have taken advantage of the current $10,000 limit, 60% earn $60,000 per year or less, demonstrating that the current TFSA limit is not a tool only for the "rich";
- TFSAs are an excellent retirement savings tool for seniors who can no longer take advantage of Registered Retirement Savings Plans (RRSPS), and also for young Canadians who need a tax-effective means of saving for their future;
- Opinion poll data has repeatedly shown that a majority of Canadians support retaining the current TFSA limit, and this support is consistent across age groups, income levels and regions of Canada; and
- Canadians currently pay 43% of their income in taxes - more than they pay for food, shelter and clothing combined. Many of these tax dollars go to provide very generous pensions for government employees - pensions that the 80% of Canadians who do not work for government cannot afford for themselves but to which they contribute tens of billions of dollars every year. Retaining the TFSA limit of $10,000 is the least the government can do to help the vast majority of Canadians working in the private sector to save for a decent retirement for themselves and their families.
- Open for signature
- December 7, 2015, at 2:59 p.m. (EDT)
- Closed for signature
- April 5, 2016, at 2:59 p.m. (EDT)
- Presented to the House of Commons
-
Peter Kent
(Thornhill)
April 13, 2016 (Petition No. 421-00146) - Government response tabled
- May 30, 2016
Only validated signatures are counted towards the total number of signatures.
Province / Territory | Signatures |
---|---|
Alberta | 1166 |
British Columbia | 721 |
Manitoba | 135 |
New Brunswick | 35 |
Newfoundland and Labrador | 20 |
Northwest Territories | 5 |
Nova Scotia | 69 |
Nunavut | 1 |
Ontario | 2116 |
Prince Edward Island | 9 |
Quebec | 324 |
Saskatchewan | 163 |
Yukon | 6 |