Liberal Tax Rate Changes Announced
LIBERAL TAX CHANGES ANNOUNCED
Today the Liberals revealed the details on its ‘Tax Cut to Strengthen the Middle Class’ by reducing the federal tax bracket from 22% to 20.5% on incomes between $45,282 and $90,563 for the 2016 year. Those with incomes over $200,000 will pay more tax at a federal rate of 33%. Anyone with ordinary income over $45,282 and under $216,000 will benefit from this tax reduction.
Hear are some points to be aware of.