The federal government’s legislation reducing the lowest personal income tax rate to 14 percent will save the average taxpayer $190 annually from 2026 to 2028, according to the Parliamentary Budget Office (PBO).
The Liberal government recently introduced legislation providing an income tax cut for Canadians, saying it would save a two-income family up to $840 a year starting next year. The lowest tax rate will be reduced from 15 percent to 14 percent.
