Thursday, January 1, 2009

Basic Income Tax personal exemption increases.

What the government giveth, it also taketh away! And then some!

This is from the Star.

Starting today, the basic income tax personal exemption increases by $500 to $10,100, which the Canadian Taxpayers Federation calculates will save most taxpayers about $39 for the year.
But the lobby group notes the minor gain will be eclipsed by payroll tax changes – for both employment insurance and Canada Pension Plan premiums – that will result in an increase of $90 for most workers. The net impact? Minus $51.

1 comment:

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