Year End Tax Update

Proposed Tax Changes – Liberal Platform

November 6, 2015

Key tax initiatives in the Liberal party platform:

  • Increase the tax rate on incomes over $200,000 from 29% to 33%
  • Cap how much can be claimed through the stock option deduction
  • Rollback the $10,000 Tax-Free Savings Account contribution limit to $5,500
  • Reduce the small business rate from 11% to 9% Cancel the Conservatives’ Family Tax Cut credit

Timing not specified. Changes could apply to 2015, but not likely before 2016.

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