How will the basic personal amount, the spouse or common-law partner amount, and the amount for an eligible dependant change?
For 2009, the budget proposes to increase the basic personal amount, the maximum spouse or common-law partner amount, and the maximum amount for an eligible dependant from $10,100 to $10,320 (indexed after 2009). 2. How have the personal income tax brackets changed for 2009? For 2009, the budget proposes to increase the upper taxable income threshold of the 15% tax bracket from $38,832 to $40,726. You will be taxed at the higher rate of 22% only when your taxable income exceeds $40,726. Further more, the upper taxable income threshold of the 22% bracket will be increased from $77,664 to $81,452. You will be taxed at the higher rate of 26% only when your taxable income exceeds $81,452. The 29% bracket will continue to begin at $126,264. 3. Will the income tax withheld from my paycheque be reduced by the changes to the basic personal amount and tax brackets proposed for 2009? Yes. The Canada Revenue Agency will be issuing revised payroll tables to employers by April 1, 2009, to reflect t
