Ostroff, Fair and Company
*Ostroff, Fair and Company>>>Canada Taxes

How much income tax will the government take off?


Bcgeu just signed an agreement with the government. The signup bonus was $4200 per person. How much will the government take in tax on this?

Any bonuses paid will be taxed at the same rate as any other income.
Same as your marginal income tax %.
If your annual income go over 45K$, you can say that near 50% of this bonus will have to be paid in taxes.
Answer: 2100$
Less if your annual income is lower.
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