OTTAWA (CP) - The federal government will let you keep a little more of your money next year before it starts taxing it away. / f7 s E/ J! A& X2 {
* F& \* D/ O+ P5 M2 U7 M
$ P/ y+ P' T/ pThe Finance Department says the basic personal amount that will not be taxed in 2006 is rising to $9,039 from the current $8,648. The department says all personal income tax amounts will be adjusted by 2.2 per cent to ensure that inflation does not cause people to pay more income tax.. v4 n0 c# t9 r# q9 n$ c
4 u3 _* F+ h* D* FThose changes take effect Jan. 1.: X) R2 F, a8 \1 d7 ]5 D/ [
S6 E/ m. z) D6 ?; S3 z
Adjustments to the GST tax credit and to child tax benefits take effect July 1, 2006.6 ]# t T6 i8 D* a; ^1 @