- Income between $47,702 and $89,401 will see a new, lower federal tax rate of 20.5% (down from 22%) on = $670 reduction.
- Income above $200,000 will see a new higher federal tax rate of 33% (up from 29%).
- The break-even point on this is a taxable income of $216,750. For all income above this, your total tax payable will increase by 4%.
SOURCE: Liberal Party’s Fairness for the Middle Class
SOURCE: Statistics Canada – BC Individuals by total income level