Estimating the Fiscal Cost of Motion M-24: Three New Federal Personal Income Tax Brackets for High-Income Taxpayers

At the request of Member of Parliament Don Davies, the Parliamentary Budget Office (PBO) estimated the fiscal cost of motion M-24, which proposes the introduction of three new federal personal income tax (PIT) brackets for high-income tax filers. This note summarizes the impact of adding these new tax brackets over a five-year period with an implementation date of January 1, 2027. …