A Tax Cut With a Summer Start

2025 Summer Tax Cuts

Good news for your paycheck: on May 14 2025 the Department of Finance confirmed that the Liberals are racing ahead with their promise to trim the bottom federal tax bracket from 15 % to 14 %. The cut officially takes effect July 1 2025, but because we’re halfway through the year Ottawa will blend the math and treat 2025 as if the rate were 14.5 % overall.

Heads-up: personal tax credits are calculated at the same “lowest-bracket” rate, so their dollar value will shrink a little too.

What about payroll? The CRA says it will publish new source-deduction tables using the 14 % rate for income paid between July 1 and December 31. On May 16 the Agency released draft Form T2147-JUL (121st edition), but the tables still show the old numbers; fresh tables will land once the enabling Ways and Means Motion is introduced in Parliament.

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这个夏天，工资条要“瘦身”啦！

各位打工人注意！财政部 5 月 14 日 发来“官宣”——自由党当初吹的牛终于要兑现：联邦个人最低税率从 15% 砍到 14%！生效日锁定 2025 年 7 月 1 日，但因为上半年已经跑完，官方会把 2025 全年折算成 14.5% 的混合税率，简单说就是“前高后低、综合减半格”。

彩蛋提示：基本免税额等个人抵税额也是按最低税率算的，税率降了，能抵的税也会同步缩水一点点，别惊讶哦。

再说你最关心的工资代扣：CRA 放话，会把 7 月 1 日-12 月 31 日 的预扣税表直接切到 14%。不过 5 月 16 日 发布的试行版 T2147-JUL（第 121 版） 还没改完，原因很简单——国会的“钱袋子动议”（Ways and Means Motion）还没正式递交。一旦议案落地，CRA 就会火速更新扣税表，HR 到时候记得下载最新版，不然员工会“多扣钱、喊心疼”。

一句话总结：7 月开始，你的税率真的会掉一个点，记得关注公司工资系统有没有跟上节奏，别让省下的真金白银飞了！