Canada's Department of Finance has announced that the government is planning to reduce the lowest marginal personal income tax rate from 15% to 14% with effect from 1 July 2025. This will result in an effective full-year tax rate of 14.5% for 2025 and a full-year tax rate of 14% for 2026 and subsequent years.

---

Government of Canada delivering middle class tax cut

Last month, Canadians ca…