Bill C-80
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SUMMARY
This enactment
(a) provides an increase of $500 to the basic personal amount — the amount of income that Canadians can earn without paying federal income tax — effective January 1, 2005, and makes consequential amendments to other personal amounts accelerating the increases to the personal amounts implemented pursuant to the 2005 federal budget; and
(b) reduces the lowest 16% federal income tax rate to 15%, effective January 1, 2005.
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