Close X
Friday, November 29, 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 Plan To Hike Taxes On Top One Per Cent May Lead To Revenue Hole: Study

    Liberal Plan To Hike Taxes On Top One Per Cent May Lead To Revenue Hole: Study
    TORONTO — The Liberal government's plan to switch some of the tax burden from middle-income earners to the top one per cent will likely lead to multibillion-dollar annual revenue shortfalls for Ottawa and the provinces, according to the C.D. Howe Institute.

    Liberal Plan To Hike Taxes On Top One Per Cent May Lead To Revenue Hole: Study

    Liberals Announce Advisory Board To Quickly Choose New Independent Senators

    Liberals Announce Advisory Board To Quickly Choose New Independent Senators
    OTTAWA — The Trudeau government is setting up a five-member advisory board to fill the empty seats in the Senate with independent senators.

    Liberals Announce Advisory Board To Quickly Choose New Independent Senators

    Retired Couple In Orangeville, Ont., Opens Home To Syrian Refugees

    Retired Couple In Orangeville, Ont., Opens Home To Syrian Refugees
    The Logels' three children and five grandchildren, themselves frequent visitors to the family homestead located on four hectares outside town, are coming for Christmas, though the Logels recognize the holiday isn't one their guests celebrate.

    Retired Couple In Orangeville, Ont., Opens Home To Syrian Refugees

    Quebec Tells Doctors To Respect Court Decision Suspending Right-to-die Law

    Quebec Tells Doctors To Respect Court Decision Suspending Right-to-die Law
    MONTREAL — Doctors must respect a court ruling suspending Quebec's assisted-suicide law but the government won't go on a "witch hunt" against physicians who offer palliative sedation,  the province's health minister said Wednesday.

    Quebec Tells Doctors To Respect Court Decision Suspending Right-to-die Law

    Defence Lawyer Calls Travis Vader, Accused In Deaths Of Couple, A 'Victim'

    Brian Beresh's comments came Wednesday during his questioning of Sgt. Rick Jané, the head RCMP investigator in the deaths of Lyle and Marie McCann, who vanished on a trip to B.C. in 2010.

    Defence Lawyer Calls Travis Vader, Accused In Deaths Of Couple, A 'Victim'

    Toronto Teen With Cystic Fibrosis Gets Second Go At Life With First-of-its-kind Triple Transplant

    Toronto Teen With Cystic Fibrosis Gets Second Go At Life With First-of-its-kind Triple Transplant
    TORONTO — A Toronto teen with cystic fibrosis has been given a second chance at life with a first-of-its-kind triple-organ transplant.

    Toronto Teen With Cystic Fibrosis Gets Second Go At Life With First-of-its-kind Triple Transplant