Close X
Monday, November 25, 2024
ADVT 
National

Liberals' Key Election Vow To Change Income Tax Rates Passes Through House

Darpan News Desk, 09 Dec, 2015 01:04 PM
    OTTAWA — The Liberal government's centrepiece election promise to raise taxes on the biggest income earners while cutting the rate in a lower bracket has passed the House of Commons.
     
     
    MPs voted 230-95 today in favour of a motion featuring a collection of tax changes that will siphon about $1.2 billion annually from the treasury over the next five years.
     
    The Liberals had estimated the combined fiscal impacts of the tax-rate hike and reduction would basically offset each other.
     
    Starting Jan. 1, the income-tax rate will drop to 20.5 per cent, from 22 per cent for taxable earnings between $45,282 and $90,563.
     
    The rate on all income earned beyond $200,000 will rise to 33 per cent, from 29 per cent.
     
    Opponents have said the government's tax reduction should have been extended to also benefit those who earn less than $45,282.

    MORE National ARTICLES

    Shelter Project For Indian-Origin Elders In New Zealand Launched

    Shelter Project For Indian-Origin Elders In New Zealand Launched
    A non-profit organisation in New Zealand has launched an emergency shelter project for senior citizens from the Indian and South Asian communities who are at risk of being abused, or in dire need of emergency housing

    Shelter Project For Indian-Origin Elders In New Zealand Launched

    Terminally Ill Boy Who Galvanized An Ontario Town To Give Him An Early Christmas Dies

    Terminally Ill Boy Who Galvanized An Ontario Town To Give Him An Early Christmas Dies
    BRANTFORD, Ont. — A terminally ill Ontario boy whose wish for an early Christmas attracted a heartfelt outpouring of support has died.

    Terminally Ill Boy Who Galvanized An Ontario Town To Give Him An Early Christmas Dies

    Think-Tank Says Provinces Need To Be Better Prepared For Aging Population

    Think-Tank Says Provinces Need To Be Better Prepared For Aging Population
    SASKATOON — A Calgary-based think-tank says the provinces seem to be ill-prepared for the country's aging population, and the financial challenges that will bring.

    Think-Tank Says Provinces Need To Be Better Prepared For Aging Population

    Sentencing Hearing For Teen Convicted Of Pushing Student To His Death Under Bus

    Sentencing Hearing For Teen Convicted Of Pushing Student To His Death Under Bus
    The boy, who cannot be named under the Youth Criminal Justice Act, was convicted in October of criminal negligence causing the death.

    Sentencing Hearing For Teen Convicted Of Pushing Student To His Death Under Bus

    CBC Observers Hope For Reinvigorated 2016 After Scandal-Plagued Year

    CBC Observers Hope For Reinvigorated 2016 After Scandal-Plagued Year
    TORONTO — It's been a heck of a year for the CBC — a scathing report denounced managers for their handling of the Jian Ghomeshi affair while former anchors Amanda Lang and Evan Solomon faced controversies of their own.

    CBC Observers Hope For Reinvigorated 2016 After Scandal-Plagued Year

    Ontario Drivers Without Passengers Will Be Able To Pay Fee To Use Carpool Lanes

    Ontario Drivers Without Passengers Will Be Able To Pay Fee To Use Carpool Lanes
    TORONTO — Ontario is taking a go-slow approach to one of its plans to ease traffic congestion, announcing a pilot project for a toll lane on the Queen Elizabeth Way between Oakville and Burlington.

    Ontario Drivers Without Passengers Will Be Able To Pay Fee To Use Carpool Lanes