Last week, Member of Parliament for Brampton South Sonia Sidhu announced her government’s changes to the Basic Personal Amount that will leave more money in the pockets of residents of Brampton South.
January 1st, 2020 marks the first increase date to the Basic Personal Amount in the government’s pursuit of raising it to $15,000 by 2023. This will mean that by 2023, Canadians will pay no taxes on the first $15,000 they earn annually. Once fully implemented in 2023, this plan will provide Canadians annual savings of up to $600, and put $6 billion into the pockets of Canadian households.
MP Sidhu was proud of her government’s work in saving Canadians money. “Our government has prioritized putting more money in the hands of Canadians, investing in the middle class, and those working hard to join it. Through programs like the Canada Child Benefit, the 2015 Middle Class tax cut, and more generous seniors’ benefits, over 1,000,000 Canadians have been lifted out of poverty since 2015.” MP Sidhu said. “Over our next mandate, we will continue to help Canadian families by increasing the Basic Personal Amount, and ensuring Canadians feel more financial freedom over the coming years.”
MP Sonia Sidhu will be returning to Ottawa this month, where she says she will prioritize “Investing in the middle class, and ensuring those who are working to join it, find their pathway there. Residents of Brampton South put their trust in me for another mandate, and I am so grateful to work on behalf of them for another term.”