Personal income tax changes effective July 1, 2007:

	tax rates to be reduced lowest tax bracket rates from 10.57% to 8.7% (2007 average = 9.64%) middle tax bracket rates from 16.16% to 13.8% (2007 average = 14.98%), and highest tax bracket rates from 18.02% to 16.5% (2007 average = 17.26%)
	9% surtax eliminated (resulting in 4.5% surtax for 2007)
	personal income tax system will be indexed to inflation, including tax brackets, tax credits, and benefits for low-income families.  Indexation will then occur annually.

effective January 1, 2007, the Low Income Tax Reduction will be adjusted from $12,000 to $13,000 for individuals and from $19,000 to $21,000 for families.

Seniors' Benefit for married seniors increased as a result of adjustments to the income threshold range.

small business threshold under the corporate income tax increased from $300,000 to $400,000, effective for 2007

retail sales tax rate applicable to private sale of used motor vehicles reduced from 15% to 14% effective midnight April 26, 2007.

Federal income tax measures affecting taxable income that automatically affect provincial taxable income in all provinces and territories except Québec:

	effective January 1, 2007, eligible pension income can be split between spouses.  See the article on pension splitting.
	lifetime capital gains deduction increased from $500,000 to $750,000.