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| *Ostroff, Fair and Company>>>Canada Taxes |
What is the exact percentage that Canadians have to pay in taxes? |
What is the exact percentage that Canadians have to pay in taxes? Canada's federal government has the following tax brackets for the 2006 tax year: Federal Tax Rates for 2006: http://www.cra-arc.gc.ca/tax/individuals... * 15.25%: on taxable income of $36,378 or less * 22%: on taxable income of more than $36,378, but not more than $72,756 * 26%: on taxable income of more than $72,756, but not more than $118,285 * 29%: on taxable income of more than $118,285 Each province adds their own tax on top of the federal tax. Provincial / Territorial Tax Rates for 2006: http://www.cra-arc.gc.ca/tax/individuals... wow that guy is smart When you say 'taxes' what do you mean? There is: 1.) Federal Income Tax 2.) Provincial Income Tax 3.) Property Tax 4.) GST/HST Tax 5.) CPP Tax 6.) EI Tax 7.) Property Tax 8.) PST Taxes 9.) Fuel Tax Etc etc etc there are thousands of different taxes. I'd estimate the percentage of total taxes to be in the neighborhood of 85% of all income. It is not a set percentage. It depends on your income. The more you make, the more tax you pay. You can pay anywhere up to about 40%, but you have to be making a ton of dough. Most people pay about 30% I'd say. This just talks about Income Tax (Provincial and Federal) in British Columbia |
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