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Liberal victory or should you worry about the TFSA?

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From a macro perspective, elections rarely impact the economy, and from a big-picture point of view, there’s really nothing to stress about.

As for taxes, the Liberals have promised to raise the tax rate for income above $200,000 to 33% from 29%. On a $250,000 income, this would mean paying up to $1,329.50 more. They would also lower the rate for income between $44,700 and $89,401 to 20.5% from 22%, for tax savings worth up to $670 a year per person.


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Liberal victory or should you worry about the TFSA?

From a macro perspective, elections rarely impact the economy, and from a big-picture point of view, there’s really nothing to stress about.

As for taxes, the Liberals have promised to raise the tax rate for income above $200,000 to 33% from 29%. On a $250,000 income, this would mean paying up to $1,329.50 more. They would also lower the rate for income between $44,700 and $89,401 to 20.5% from 22%, for tax savings worth up to $670 a year per person.

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