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In Committee from the Senate of Canada
National Finance - November 22, 2016
The committee adopts an amendment during its clause-by-clause consideration of the government's changes to federal income tax rates. The amended bill will be presented in the Senate for further consideration. Bill C-2 reduces the second marginal tax rate from 22% to 20.5% for income between $45,283 and $90,563 and introduces a top marginal tax rate of 33% for a new tax bracket, for taxable income above $200,000. (November 22, 2016) UPDATE: Bill C-2 received royal assent on December 15.