Close X
Friday, November 8, 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

    Liberal MP Bill Casey Appeals To Public To Help Disabled Man Stuck In Britain

    Liberal MP Bill Casey Appeals To Public To Help Disabled Man Stuck In Britain
    Bill Casey, the MP for Cumberland-Colchester, says Robert Denton can't pay his medical expenses or the cost of a return trip.

    Liberal MP Bill Casey Appeals To Public To Help Disabled Man Stuck In Britain

    Alberta To See Modest Growth In 2016 Despite Low Oil Prices: Conference Board

    Alberta To See Modest Growth In 2016 Despite Low Oil Prices: Conference Board
    CALGARY — The Conference Board of Canada says Alberta should see modest economic growth next year despite persistently low oil prices.

    Alberta To See Modest Growth In 2016 Despite Low Oil Prices: Conference Board

    Victoria Police Chief 'Humiliated Beyond Words' For Twitter Messages To Subordinate's Wife

    Victoria Police Chief 'Humiliated Beyond Words' For Twitter Messages To Subordinate's Wife
    Frank Elsner says an investigation that concluded last week found there was no inappropriate relationship, but he takes full responsibility for engaging on social media.

    Victoria Police Chief 'Humiliated Beyond Words' For Twitter Messages To Subordinate's Wife

    Indo-Canadian Wrestler Arjun Gill Wins Chance To Feature In Rio Olympics

    Indo-Canadian Wrestler Arjun Gill Wins Chance To Feature In Rio Olympics
    At the young age of 22, Arjun Gill has proven himself to be a fantastic wrestler, winning gold in wrestling at the Commonwealth Games 2014 held in Glasgow, Scotland.

    Indo-Canadian Wrestler Arjun Gill Wins Chance To Feature In Rio Olympics

    Two Montreal Men Die After Third-Floor Balcony Railing Gives Way

    Two Montreal Men Die After Third-Floor Balcony Railing Gives Way
    MONTREAL — Two Montreal men are dead and another is in critical condition after the railing of a third-floor apartment balcony gave way early Sunday morning.

    Two Montreal Men Die After Third-Floor Balcony Railing Gives Way

    Catherine McKenna Named As One Of 14 Facilitators Of Paris Climate Conference

    Catherine McKenna Named As One Of 14 Facilitators Of Paris Climate Conference
    The group was created to assist French Foreign Affairs Minister Laurent Fabius, the conference's president.

    Catherine McKenna Named As One Of 14 Facilitators Of Paris Climate Conference