The increase in the AMT exemption will increase the tax-free level of dividends which an individual can receive

Two benefits of the increase in the AMT exemption from $40,000 to $173,205 going from 2023 to 2024:

• In 2023, a Canadian individual taxpayer with income of $55,000 that consisted solely of eligible dividends would not be subject to federal tax, but would be subject to AMT on eligible dividends in excess of $55,000 until the regular net federal tax payable exceeded the minimum amount – whereas for 2024 and subsequently, income consisting only of eligible dividends will not generate AMT at any income level.
• A taxpayer in 2024 will be able to receive tax-free eligible dividends of up to $71,780 for federal purposes, which is an increase of $16,780 compared to 2023. Taking into account provincial income tax, there is also an increase in all the provinces (also from $55,000 to $71,780 in Ontario, Alberta, B.C. and Saskatchewan, and a smaller increase, and from lower levels, for other provinces.)

Jay Goodis and Evan Crocker, “Alternative Minimum Tax and Eligible Dividends,” Tax for the Owner-Manager, Vol. 12, No. 3 January, p. 5 under s. 127.51.