02 October, 2020 Tax Planning

2016 Tax Changes Report


Understanding the Federal Government’s Proposed Changes Shouldn’t be Taxing
Important facts and tips regarding the government’s new tax policies
Canada’s recently elected federal government has a number of changes to how we’re going to be taxed in 2016 and beyond. Some of these changes are likely to impact your financial situation in the coming years, so it’s important for you to know what these changes are, and work with your Advisor to take advantage of opportunities that may be available to you.

Tax changes that might impact your financial circumstances

  • Increase in the federal tax rate from 29% to 33% for individuals earning over $200,000.
  • Decrease in the federal tax rate from 22% to 20.5% for Canadians earning between $45,282 and $90,563.

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