How the main federal parties plan to tax the wealthy

The federal NDP and Conservatives typically don't agree on much, but they have aligned on at least one topic this election campaign: making sure Canada's wealthiest "pay their fair share."

You can find that line in the Conservatives' 2021 platform. (Download the plan and scroll down to page 157)

And of course, NDP Leader Jagmeet Singh has talked about making the wealthy "pay their fair share" at just about every available opportunity.

Here's what we know about the personal taxation plans for each of the major federal parties, and who exactly they're talking about when they mention the "ultra-rich" or "the top one per cent of earners."

While each of the major parties wants to make changes to Canada's tax rules, the NDP has proposed the most radical overhaul of the existing system.

The central promise is a new annual wealth tax of one per cent on families with fortunes of more than $10 million.

A family with a net wealth of $100 million, for example, would pay $1 million in annual taxes under this plan, in addition to various other taxes already in place.