Personal Tax Measures
- The lowest personal income tax rate, which applies to all income earned up to a threshold of about $36,400, will rise to 15.5 per cent effective July 1.
Business Tax Measures
- The general corporate tax rate will be cut to 19 per cent from 21 per cent by 2010.
- The corporate surtax for all businesses will be dropped by Jan. 1, 2008.
- The federal capital tax is eliminated, retroactive to Jan. 1, 2006.