The federal government has unveiled a major income tax cut set to take effect July 1, 2025. The lowest personal income tax rate will drop from 15% to 14%, potentially saving two-income families up to $840 a year by 2026.
This change could benefit nearly 22 million Canadians, especially those earning under $114,750 annually. The goal? Help ease the cost of living across the country.
But will this move make a real difference in today’s high-cost housing market, especially in cities like Vancouver?
