Changes to Alternative Minimum Tax.

The article discusses the changes to the Alternative Minimum Tax (AMT) provisions in Canada that came into effect on January 1, 2024. The AMT was introduced in 1986 to ensure that high-income individuals pay a fair share of tax. The new changes include an increase in the adjusted taxable income exemption and an increase in the federal tax rate for AMT. The article provides a comparison of income tax components and their treatment under the regular tax, AMT treatment for 2023 and before, and AMT treatment for 2024 and after. [Extracted from the article]