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On January 1, 2010, all indexed personal income tax amounts, including tax bracket thresholds and amounts used to calculate non-refundable tax credits, were adjusted by 0.6%. The Canada Child Tax Benefit and the goods and services tax credit will take effect July 1, 2010.
For 2010 the federal tax bracket thresholds are:
- 22% for taxable income above $40,970;
- 26% for taxable income above $81,941 ; and
- 29% for taxable income above $127,021.