In 2015, one of our Government’s first acts was to cut taxes for middle-class Canadians. We knew then, and still know today, that when we invest in middle-class Canadians, we build stronger communities, create more jobs, and continue to grow our economy. That’s why, our government took steps to lower taxes for nearly 20 million Canadians by 2023, while ensuring that the wealthiest individuals won’t benefit.
Starting in 2020, this change would put more money back in the pockets of Canadians by increasing the amount of money they can earn before paying federal income tax.
This could save a single person almost $300 a year, provide a couple or a family close to $600 a year in savings, and nearly 1.1 million more Canadians would no longer pay federal income tax at all.
Canadians elected our Government to ensure that everyone has a fair chance to succeed. We will continue to invest in middle-class Canadians and those people working hard to join the middle class, to build a stronger, more resilient Canada.