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Income tax reduction
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Main measures
New personal income tax reduction to be fully implemented in July 2001: $3.5 million for the next three years.
In all, taking into consideration the reductions announced in March 2000, there will be a cumulative reduction of $11 billion over four years.
In 2002, a total income tax reduction of 20%, i.e. $1 410 per taxable household.
Three measures to keep an eye out for:
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New taxation rates in July 2001:
Automatic indexation in January 2002 The additional income tax reduction for families, announced in March 2000, will be in effect one year earlier and will apply retroactively to January 2001. |
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