What’s New In Tax

Here is a summary of recent income tax—and some non-income tax—changes. Individuals Tax rates and tax brackets.  There were no changes to federal personal tax rates in 2022. The 2022 tax brackets increased by 2.4% to account for inflation. The tax brackets are increased by 6.3% for 2023. The government announced it was committed to a new alternative minimum tax regime for high-income Canadians. Details to come as part of the 2023 budget. Basic personal tax...