Who wins (and who doesn’t) from the new middle class tax cut? – Behind the Numbers
This new middle-class tax cut is not to be confused with the 2015
iteration that cut taxes most for those making over 100K. It’s also not
to be confused with the “universal tax cut” in the Conservative
platform, (although both would cost the same and have similar distributions).
The current Liberal version proposes to increase the basic personal
exemption from 13K to 15K, but in a slightly more middle class twist the
reduction gets clawed back as you approach the top 2% of earners who
are making over $150,000 a year in 2023 (the year this measure is fully
implemented).