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ARTICLE · 02 MAY 2017

2017 Ontario Budget Commentary

Collins Barrow National Incorporated
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Finance Minister Charles Sousa tabled the Ontario Budget on April 27, 2017. The deficit for the 2016-17 fiscal year is projected to be $1.5 billion, with a balanced budget projected for 2017-18...

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Collins Barrow National Cooperative Inc.
Collins Barrow National Cooperative Inc.
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Introduction

Finance Minister Charles Sousa tabled the Ontario Budget on April 27, 2017.

The deficit for the 2016-17 fiscal year is projected to be $1.5 billion, with a balanced budget projected for 2017-18, 2018-19 and 2019-20.

The Budget does not include any changes to Ontario's personal or corporate income tax rates.

Measures Affecting Individuals

Personal Income Tax Rates

This Budget does not propose any changes to personal income tax rates; the top marginal rates are as follows:

Type of Income 2017
Salary and other income 53.53%
Capital gains 26.76%
Eligible dividends 39.34%
Non-eligible dividends 45.30%

Ontario Seniors' Public Transit Tax Credit

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