The Canadian Taxpayers Federation say after the new year's tax changes most Canadians will have money in their pockets.

CTF Federal Director Aaron Wudrick says that while they are happy with most of the changes, one concern they have is the raised taxes for those with a high income.

"We're pleased with most of it, it's fair to say we've been long calling for a middle class tax cut for income taxes and we're glad to see the new government delivering that. We are concerned that they are raising taxes on high incomers.  It is a bad signal to send and it simply wasn't necessary.  They simply could have cut them for the middle class and left it at that."

Wudrick says higher taxes for the wealthy won't raise much money, and provides a dis-incentive for people to avoid paying taxes in other legal ways. He is also concerned that the Trudeau government has not adjusted their spending accordingly.

"Our eye is also on the Liberal spending plan. So, we like their tax plan but we're a little concerned they are not scaling back their spending accordingly. It's a good things to cut taxes and put money back into Canadian's pockets, but you also have to make adjustments to how much the government spends if there's not as much money in the kitty. Otherwise we end up paying for it down the road in the form of interests or higher taxes later."

He also mentions that Albertans in particular may find the year harder as well.

"Obviously Alberta's also had a dramatic change in government, so I would say of all the provinces Alberta's probably getting walloped more than anyone else.  Because of increases in taxes at the provincial level, some of the cuts federally are being offset. Especially if you are a relatively high-income earning Albertan family, you're going to pay substantially more taxes."

Wudrick says the main idea is that the tax changes will affect everyone differently depending on individual circumstance, but the majority of Canadians will notice a tax break in 2016.