Posted on 15 June 2010
OTTAWA – Last week, Senator Pierrette Ringuette resumed debate in support of Bill C-288, An Act to amend the Income Tax Act (tax credit for new graduates working in designated regions).
Bill C-288 proposes to give every new graduate who settles in a designated area a tax credit equal to the lesser of 40 per cent of the individual's salary, or $3,000, or the amount by which $8,000 exceeds all amounts paid for a preceding taxation year. The bill will help foster economic development is areas that have been losing young people, such as rural towns and First Nations communities, by giving trained and skilled workers the incentive to relocate to these communities and contribute to the local economy.
“As a senator from New Brunswick, I can attest to the fact that small towns and communities are facing an exodus of young people who are moving to larger centres. Whether in the forestry, agriculture, mining or agri-food sector, our communities are being deprived of their talent because we are not paying more attention to this issue,” said Senator Ringuette. “For decades, we have been focusing on tax credits, repayable loans or other types of incentives to bring businesses and industries to remote regions, without thinking about the human resources these businesses need in order to contribute to the economy of those communities.”
Senator Ringuette is encouraging all Senators to support this bill, saying that “through the passage of this bill, all regions of Canada will benefit socially and economically from this country’s wonderful post-secondary education system.”
Please click here to read Senator Ringuette’s remarks.
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For Additional Information:
Tim Rosenburgh
Office of Senator Pierrette Ringuette
(613) 943-3645