A number of new federal government rules and legislation come into effect starting today.
They include changes to income tax brackets, with an indexation increase of 2 per cent. The lowest marginal personal income tax rate drops from 15 to 14 per cent.
Taxes owed on income between $58,523 and $117,045 is 20.5 per cent and 14 per cent for incomes of $58,523 or less.
That could result in tax savings of up to $420 per person and $840 per couple this year.
Meanwhile, increases to the GST credit, the Canada Child Benefit and the Child Disability Benefit also kick in this year.
