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What do I need to know about the upcoming tax changes?
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The upcoming tax changes will affect most individuals and businesses in Canada. Generally, they involve increasing taxes on higher income earners while reducing them for lower income earners. This includes raising the basic personal amount, increasing the taxable income threshold, eliminating certain deductions, and introducing new taxes such as the carbon tax. It is important to stay informed and understand the implications of these changes so you can make an informed decision when filing your taxes.