For Immediate Release
November 23, 2004

ONTARIO INTRODUCES LEGISLATION TO BENEFIT SENIORS
685,000 Senior Families Would Receive $85 Million In Tax Credits

Queen's Park - The McGuinty government is taking steps to increase tax credits for seniors with low and moderate incomes for the first time in more than 10 years, John Gerretsen, Minister Responsible for Seniors, announced today.

"The action we are proposing would put more money into the hands of seniors," said Gerretsen. "It is yet another important piece of our plan to help seniors live safely, with dignity, and as independently as possible, with the supports they need."

Under the proposed legislation introduced by the government yesterday, the basic property tax credit for seniors would increase by $125 to $625, e ffective for the 2004 and subsequent taxation years . In addition, to ensure that all seniors currently receiving the maximum property and sales tax credits benefit from this proposed enrichment, the maximum amount for the xredits would be increased from $1,000 to $1,125.

" This proposed enrichment would deliver an estimated $85 million in benefits to about 685,000 senior families, including approximately 33,000 senior families who do not currently benefit from the credit," added Gerretsen.

If the proposed changes are passed, seniors would be eligible for additional assistance through the Property and Sales Tax Credits program. For example:

• A single senior with income of $22,700, paying $780 per month in rent, would receive Ontario Property and Sales Tax Credits of $884.20, representing a $125 increase.
• A senior couple with income of $44,300, paying $2,500 per year in property taxes, would receive $125 more in Ontario Property and Sales Tax Credits, bringing the total benefit to $183.