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Tax Policy Comparison:
PERSONAL TAXATION #1
| Tax Policy Comparison: PERSONAL TAXATION #1 |
Conservative Party | Liberal Party |
|---|---|---|
| POLICY | Reduce the rate of the Bottom Personal Taxation Bracket | Reduce the rate of the Bottom Personal Taxation Bracket |
| DATE | 24-Mar-25 | 23-Mar-25 |
| URL | View Policy Video | View Policy |
| DESCRIPTION & COMMENT |
2.25 % reduction of the current lowest bracket (income from nil to approximately $57K). In other words, reduce from current 15% to 12.75%. This means, unless amendments are made to the Income Tax Act, that personal tax credit amounts, except for certain charitable donations will be at 12.75% as well. Estimated cost to the fisc = $12 billion before recoveries from reduced personal tax credits. |
1.0% reduction of the current lowest bracket (income from nil to approximately $57K). In other words reduce from current 15% to 14%. This means, unless amendments are made to the Income Tax Act, that personal tax credit amounts, except for certain charitable donations will be at 14.0% as well. Estimated cost to the fisc = $6 billion before recoveries from reduced personal tax credits. |
Tax Policy Comparison:
PERSONAL TAXATION #1
Tax Policy Comparison: Personal Taxation #1
Conservative Party
Date: March 24, 2025
Summary:
Reduce the rate of the Bottom Personal Taxation Bracket.
Description & Comment:
2.25 % reduction of the current lowest bracket (income from nil to approximately $57K). In other words reduce from current 15% to 12.75%.
This means, unless amendments are made to the Income Tax Act, that personal tax credit amounts, except for certain charitable donations will be at 12.75% as well.
Estimated cost to the fisc = $12 billion before recoveries from reduced personal tax credits.
View Policy Video
Summary:
Reduce the rate of the Bottom Personal Taxation Bracket.
Description & Comment:
2.25 % reduction of the current lowest bracket (income from nil to approximately $57K). In other words reduce from current 15% to 12.75%.
This means, unless amendments are made to the Income Tax Act, that personal tax credit amounts, except for certain charitable donations will be at 12.75% as well.
Estimated cost to the fisc = $12 billion before recoveries from reduced personal tax credits.
View Policy Video
Liberal Party
Date: March 23, 2025
Summary:
Reduce the rate of the Bottom Personal Taxation Bracket.
Description & Comment:
1.0% reduction of the current lowest bracket (income from nil to approximately $57K).
In other words, reduce from current 15% to 14%.
This means, unless amendments are made to the Income Tax Act, that personal tax credit amounts, except for certain charitable donations will be at 14.0% as well.
Estimated cost to the fisc = $6 billion before recoveries from reduced personal tax credits.
View Policy
Summary:
Reduce the rate of the Bottom Personal Taxation Bracket.
Description & Comment:
1.0% reduction of the current lowest bracket (income from nil to approximately $57K).
In other words, reduce from current 15% to 14%.
This means, unless amendments are made to the Income Tax Act, that personal tax credit amounts, except for certain charitable donations will be at 14.0% as well.
Estimated cost to the fisc = $6 billion before recoveries from reduced personal tax credits.
View Policy