Factbox: Policies of Canada's New Democratic Party

(Reuters) - The following are some of the policies that have been released by Canada's New Democratic Party (NDP): CORPORATE TAXES The NDP wants to raise the rate of tax businesses pay to bring it closer to the average among Canada's Group of Seven peers, though the NDP has not released details of what the new rate would be. The federal general corporate tax is 15 percent. In 2011, the NDP advocated raising the rate to 19.5 percent. TAX RATES FOR SMALL BUSINESSES In January, party leader Thomas Mulcair said he would reduce the small business tax rate to an eventual 9 percent from 11 percent, with a cut to 10 percent to be effective immediately if the party takes office. The decrease to 9 percent would come as finances permit. The budget delivered by the ruling Conservative government last month proposes to phase in reductions to the small business tax rate, getting it to 9 percent by January 2019. STOCK OPTIONS The party would eliminate the 50 percent tax exemption given for stock options. ISLAMIC STATE The NDP has opposed Canada's military mission against Islamic State, which the Conservatives recently extended to the end of March 2016. "The New Democrats will immediately end Canada's participation in this war," Mulcair told Parliament in March. ENVIRONMENT The party is in favor of carbon pricing through a pan-Canadian cap-and-trade mechanism. "The most effective way to reduce our greenhouse gas emissions is to cap the level of emissions and over time, reduce the limit. This mechanism worked to eliminate acid rain and it will work for greenhouse gas emissions," Mulcair said in a speech earlier this month. Mulcair also said the NDP will revamp Canada's environmental review process for the approval of major resource infrastructure, such as pipelines. CHILD CARE The NDP would support or maintain the creation of one million new child care spaces within eight years, which would cost no more than C$15 ($12.19) a day. MINIMUM WAGE The NDP wants to reinstate a federal minimum wage, pegging it at C$15 an hour. The minimum wage would apply only to federally regulated workers, which includes sectors such as telecoms and the banks. BUSINESS INVESTMENT The party would extend for two years the accelerated capital cost allowance for machinery and equipment, which is set to expire this year. The Conservative Party in its recent budget said it would provide an accelerated capital cost allowance to manufacturers at a 50 percent rate on a declining-balance basis for eligible assets bought after 2015 and before 2026. The NDP would also create an innovation tax credit for businesses that invest in machinery, equipment or property used for research and development. INCOME SPLITTING AND TFSA The NDP would scrap the Conservative's income-splitting plan that was introduced last year for parents of children under the age of 18. The party would also roll back the annual contribution limit on tax-free savings accounts (TFSAs) to the current C$5,500, which the Conservatives are planning to lift to C$10,000. ($1 = $1.2307 Canadian) (Reporting by Leah Schnurr, editing by John Pickering)