The federal finance minister spoke Monday to set out the government’s plans on proposed tax changes. The Liberals made an election pledge to cut middle-earners’ taxes and add more of the burden on high earners. Bill Morneau told the Commons that the changes will take effect on Jan 1 2016 and will mean those earning between $45,282 and $90,563 will pay tax at a 20.5 per cent rate rather than the current 22 per cent. Those who make more than $200,000 a year will face a new 33 per cent tax rate.
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