The Ontario government will increase taxes for those making above $150,000 a year.
The Liberal government announced the measures in the 2014 budget, released May 1.
People with annual taxable income between $150,000 and $220,000 would pay $450 more in provincial income tax as the rate would go up one percentage point to 12.16 per cent. Those earning above $220,000 would pay $5,500 more.
It would affect 260,000 individuals, but not households with a combined income of more than $150,000, the Toronto Star reports.
Ontario currently has the second-lowest marginal top tax rate in Canada, says the Canadian Centre for Policy Alternatives.
The tax change would only come into effect if the budget is passed. The Liberals currently have a minority government, and Progressive Conservative leader Tim Hudak has said he would vote against the budget.
“We’ve got a budget here that quite frankly is a charade. Does anybody really think that this is a budget to govern the province of Ontario? Isn’t it really just a series of unconnected ideas to try to keep the Liberal party in office and then to buy the support of the NDP? I want to ask you: is that going to help a single person get back to work in the province?” Hudak said.
On Friday, NDP Leader Andrea Horwath said she would also vote against the budget.
Also read: Taxes and your legacy