- The Low-income Individuals and Families Tax (LIFT)
The low-income individual and families tax is Ontario non-refundable tax credit which can be used to offset the Ontario personal income tax payable exclude the Ontario Health Premium. In 2019 the tax filer who earns employment income can claim LIFT at lower of $850 or 5.05% of its employment income for individual and $1,700 for couple. The LIFT will reduce when individual income greater than 30,000 and 60,000 for family.
The credit will reduce after additional income by 10% of the greater of dividable net income excess of $30,000 and $60,000 for family. The credit will be reduced to zero when individual income exceed $38,500 and family income exceed $68,500.
The LIFT is NOT for those who
non-resident of Ontario
no employment income
be in prison for more than six months during the year.
- Removing requirements for four days’ notice for scheduling change and on-call pay;
- Eliminating three sick days, two bereavement days, and three family responsibility days per year for employee.
- The Ontario employer has to pay employer health tax, when its annual payroll amount greater than $450,000. In 2019 this exemption amount is increased to $490,000.