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To: Cogito Ergo Sum who wrote (13446)	11/3/2006 2:57:53 PM
From: russet	Respond to of 25575

The other side of the story is it's the poorman against the richman,... FSNA welcomes tax improvements for seniors OTTAWA, Nov. 2 /CNW Telbec/ - The Federal Superannuates National Association (FSNA) supports the Government's plan to implement a fairer tax system, as announced by the Minister of Finance on October 31, and compliments it for introducing a mechanism for pension income splitting and for retroactively increasing the Age Credit amount by $1,000. FSNA represents retirees and future retirees from the federal public service, the Canadian Forces, the Royal Canadian Mounted Police, and the federal judiciary. It has some 145,000 members. Pension splitting would benefit couples whose difference in their pension income is large enough to put them in different tax brackets. With this new mechanism, a single-income couple would no longer pay significantly more income tax than a couple who draws the same household income from each of the individuals' pensions. FSNA considers that many older Canadians and pensioners would not be negatively affected by the decision to change the tax rates applying to income trusts and large corporations, because some of them, mostly at the lower income levels, never had sufficient income to invest. "The principle of seeking a fair and balanced tax system is one that all seniors support. A number of seniors' organizations have made representations to the government about the dangers of the trend for large corporations to move to income trusts, mostly as a means to avoid taxes, thereby shifting the tax burden to individual taxpayers," said Jean-Guy Soulière, FSNA's Executive Director. While it recognizes that some seniors may be negatively affected by this announcement in the short term, FSNA believes that in the longer term the measures announced by the government should ensure a better balance of the tax burden between corporations and individuals. FSNA is a member of the Congress of National Seniors' Organizations that consists of 10 groups representing more than two million older Canadians. It will recommend to these organizations that they support the positive measures of the Tax Fairness Plan announced by the government. For further information: contact: Jean-Guy Soulière, FSNA Executive Director, (613) 745-2559