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Changes to the Alternative Minimum Tax as Proposed in Budget 2023

Katarina Michalyshyn ; Matt Dong
Published on September 7, 2023 PDF(opens a new window)

This report estimates the impact of changes to the Alternative Minimum Tax (AMT) proposed in Budget 2023.

Some high-earning individuals and trusts have enough tax credits, deductions and other tax incentives that their income tax as a percentage of their income is lower than that of other taxpayers. The AMT aims to ensure that higher-income taxpayers pay at least a base rate of tax. Budget 2023 proposed changes to the AMT that would make the highest-income earners pay a greater proportion of the total AMT revenue.

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