Fair Start for Young Workers Act, 2026

RÉSUMÉ DU REGISTRE OFFICIEL

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The Bill amends the Taxation Act, 2007 . Currently, section 6 of the Act sets out the rules for calculating the basic personal income tax for an individual during the taxation year, which is determined by multiplying different levels of the individual’s income by progressive tax rates. The amendments provide that, for every taxation year ending after December 31, 2026, the amount owing in respect of the part of an individual’s income that is ordinarily taxed at the lowest tax rate is $0 if the individual is under the age of 27 at the start of the taxation year. This provision would be automatically repealed five years after Royal Assent unless the Assembly adopts a resolution stating that the provision should not be repealed. A new resolution would be needed every five years to prevent the automatic repeal.

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