A key part of expanding our workforce and economy is ensuring we are giving young people the opportunity to succeed.
That is why one of our Conservative MPs, Dan Albas, tabled a bill during the last session to support workers who are struggling with the burden of student loans.
Currently, if an employer wanted to help an employee pay off their student loans, either with a bonus or part of their salary, that would be taxed as regular income. This bill would allow employers and employees to enter voluntary arrangements where payments made by an employer to an employee pursuant to a student loan assistance program would be a non-taxable benefit.
Graduating with thousands of dollars in student loans creates a massive barrier for young people planning their future. Providing support to help relieve these burdens will help young Canadians to get ahead, while at the same time helping employers to attract talented workers and keep them.