Rob Carrick on tax fairness, dollar-store home décor and GICs
is trying to change things by lobbying the federal government. To find out what single seniors are up against and what can be done to help them, I invited SSTF director Elizabeth Brown to do a Q&A for this newsletter. Here’s an edited version of our Q&A by e-mail:I am a lifelong single in my early 60s who worked as an information technology consultant before retirement. I read about Single Seniors for Tax Fairness and the founder, Jane Robertson,several years ago.
Q: How many single seniors are there in Canada, and what are some specific ways they’re discriminated against from a taxation point of view?Based on the 2021 census, almost 40 per cent of people 65-plus are single, and almost 70 per cent of them live alone. About 70 per cent of single seniors living alone have an income less than $50,000. Senior couples can use pension income splitting and the transfer of non-refundable tax credits to reduce their taxable income.
Q: For everyday living costs, how much of an advantage is it to be part of a couple rather than single?It’s a huge advantage. Financial planners have concluded that single seniors require up to 70 per cent of the income of a couple to maintain the same lifestyle. For example, unavoidable expenses like rent, mortgage payments, property taxes, condo fees, property insurance, maintenance, utilities, etc. cost the same whether one person or a couple lives in a home.
Q: What stories have you heard lately about single seniors struggling financially as a result of big increases in the cost of living?We’ve heard of single seniors facing hardships due to financial insecurity, rising costs and unexpected life events. They are much more likely to have to reduce their expenses to meet the basic necessities compared to a couple. Single seniors have a lot less disposable after-tax income compared to a couple with the same total income.
Q: Let’s say you have the attention of the prime minister and the finance minister. What’s on your ask list?Single seniors don’t mind paying taxes, but we want to be taxed fairly, not based on our marital status, which is one of the prohibited grounds for discrimination according to the Canadian Human Rights Act.
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