HUGHES SUPPORTS TAX INCENTIVES FOR NEW GRADUATES IN RURAL COMMUNITIES
March 26th, 2010 - 4:00am
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.”