After crunching the numbers, the Canadian Taxpayers Federation says most Canadians will see a tax break in 2016.

Aaron Wudrick, Federal Director with the CTF notes that the there are an especially large amount of changes this year, due to the new federal government. He says the majority of Canadians will have more money in the bank as a result of two big changes, one being a tax cut for the middle class.

"So any income earned between $45,000 and $90,000 a year that drops the federal rate from 22 to 20.5 percent so that's good news for most Canadians." 

Wudrick says another major change is the way the child care benefit is being set.

"It used to be a flat rate for every child to every family, regardless of how much that family earned.  The new system changes it, so families that earn less will receive more, and families that earn more will receive less."

He also notes that income splitting has been eliminated.

"So families that benefitted from that last year are going to lose that benefit, which is up to $2,000 a year.  Some of that will be offset by the new income tax cut and the change in the child care benefit, but some families will be worse off.  We supported it generally, because we think that families should be taxed based on how much their whole household makes, but that is another change."

Wudrick says that while the impact of these changes will vary based on individual circumstance, most Canadians will have money in their pocket after the new year.

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