The ruling Liberal Party ’s minority government has fulfilled
its first election promise since winning the election in October.
Finance Minister Morneau announced today in Ottawa that
that the first job is to increase the personal
tax allowance of the federal income tax to 15,000 dollars.
20 million people are expected to pay less income tax nationwide.
Today, the federal personal income tax allowance is 13,229 dollars.
After raising the personal income tax to 15,000 dollars,
people with an estimated annual salary of less than $147,000
can pay an average of 292 yuan less federal income tax.
This measure will be implemented until the tax year 2023.
Morneau also said that under the New Deal,
1 million Canadians will not have to pay income tax at all.