Canada's Department of Finance has announced that the government is planning to reduce the lowest marginal personal income tax rate from 15% to 14% with effect from 1 July 2025. This will result in an effective full-year tax rate of 14.5% for 2025 and a full-year tax rate of 14% for 2026 and subsequent years.
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Government of Canada delivering middle class tax cut
Last month, Canadians called for a serious plan for change to address the rising cost of living that has eroded Canadians' q…