In Ontario, the combined provincial/federal top marginal income tax rate is 53.5 per cent.
income tax rate
In reality, 81 per cent of middle-class families now pay higher income taxes.
By eliminating several tax credits, Ottawa increased income taxes for many Canadians.
The PC platform would not reduce the sky-high top marginal rate facing highly-skilled workers.
When the new federal top tax rate takes effect, Alberta will have one of the highest top rates in North America.
The federal Liberals plan to increase the top federal personal income tax rate.
Earlier this month, Bill Morneau, the former chair of the C.D. Howe Institute, was appointed Canada’s minister of finance.
In an attempt to increase transparency, Prime Minister Justin Trudeau has made “mandate letters” to his ministers publicly available. These letters are intended to clarify the focus of each minister’s portfolio.