How is our tax collected by Revenue Canada calculated?On the basis of a certain bracket or percentage?

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oh wow, huge question, more complicated think,

*15% on first $37,885 of taxable income,
*22% on next $37,884 of taxable income (on portion of taxable income between $37,885 , $75,769),
*26% on next $47,415 of taxable income (on portion of taxable income between $75,769 , $123,184),
*29% of taxable income on $123,184.

federal tax. have pay provincial tax on top of that, , every province different (although feds collect on 1 tax return). deduct tax credits.

federal + provincial in ontario - top marginal tax bracket 46%

go cra's website
http://www.cra-arc.gc.ca/tx/ndvdls/fq/tx...

tax deducted our salary or business?


Business & Finance Taxes Canada Next



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