understanding canadian personal income tax with two simple charts
TRANSCRIPT
- 1. Understanding Canadian Personal Income Tax with Two Simple Charts creditfinanceplus.com
- 2. We gathered results from our Personal Income Tax Calculator, creditfinanceplus.com and after crunching the numbers, two main caracteristics stood out, helping us understand the income tax reality in Canada
- 3. Average combined prov. and fed. tax rates ranging from $30,000 to $100,000 creditfinanceplus.com
- 4. You probably noticed that on a map, the numbers are trying to say something, creditfinanceplus.com such as...
- 5. creditfinanceplus.com Go West young man!
- 6. While Quebec is the no 1 province for highest combined tax rate, creditfinanceplus.com British Columbia and Ontario show the lowest provincial rate under $100k. But what happens after $100k?
- 7. Quebec, Ontario, British Columbia and Alberta tax rate from $30k to $1M creditfinanceplus.com At around $100k, Ontario and British Columbia do not have the lowest rates anymore and lose out more and more to Alberta. With Ontario surtax, their rate gets closer and closer to Quebec.
- 8. Even with the federal tax abatement, Quebec leads for highest rate, creditfinanceplus.com British Columbia swings from lowest provincial rate to high rate after $100k, Albertas increase slows down, being the most desirable place for the very rich. Ontario almost reaches Quebec on higher income due to its surtax, and
- 9. If you want to know how much you will give to both governments, try the calculator : http://www.creditfinanceplus.com/calculators/calculate-personal- income-tax-canada.php and also see the full presentation in a slide format. creditfinanceplus.com