Canada: Mark Carney reduces income tax rate to 14% from July, over 22 million Canadians to benefit

A day after forming the new cabinet, Canada on Thursday announced a significant personal income tax cut as one of the government's top legislative priorities for the new parliamentary session. The proposal will see the lowest marginal personal income tax rate reduced from 15 per cent to 14 per cent, effective from July 1, 2025.

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