As promised, the federal Liberals are moving ahead with their election promise of an income tax cut for middle and lower income earners.
Finance Minister Bill Morneau tabled legislation in the House of Commons yesterday that will lower their personal income tax rate from 22 per cent to 20.5.
Morneau says the tax cut will provide about 3.4 billion dollars in annual tax relief to about 9 million Canadians.
To help pay for it, Canadians who earn 200-thousand dollars or more will be hit with a new 33 per cent tax rate.
