Yes, I'd be pleased to do that.
In December the government announced a phased-in increase of the basic personal amount, as we mentioned earlier, and the equivalent amounts for spouses and eligible dependants. That will increase steadily to $15,000, up from about $12,000, I believe. By 2023, about 20 million Canadians will see a reduction in tax. Those who won't are.... Essentially, the design of the increase in the credit is effectively reduced between the fourth and fifth tax brackets, which means that once you get to the threshold of the fifth bracket, there is no increase. That would result in about 1.1 million Canadians no longer paying tax.