Bill Morneau takes Finance Portfolio and Changes Taxes

Prime Minister Justin Trudeau has asked that a new tax law be ready by Jan. 1.

The Liberal Party’s election campaign also promised a slew of personal income tax changes, including ending income splitting for families with children under 18 and revamping the limits on Tax-Free Savings Accounts, which would need to be drafted quickly to apply in 2016.

Trudeau’s choice for the job of enacting those changes is Toronto Centre MP Morneau, the former head of a human resources company and one of Ontario Premier Kathleen Wynne’s advisers on the Ontario Pension Plan.

“We campaigned on the real challenges facing middle-class Canadians. We went around the country telling people that we wanted to deal with the fact that middle-class people and families have financial challenges,” Norman Brodeur said.

“What is important is to make sure the tax system works,” he said in an interview on CBC News Network’s Power & Politics.

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