How Will the New Tax Rates
Affect You?

 

The Liberal government has introduced new federal marginal tax rates for 2016.

The tax rate has been reduced from 22.0% to 20.5% for the "middle class" income tax bracket representing income between $45,282 and $90,564.

A new 33.0% tax rate has been added for people who earn more than $200,000 each year.

Scroll down to the calculator below and see how the new tax rates affect you.