Quote:
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Originally Posted by NCB
FTFY 
Man, y'all are really getting soaked!!
So, in theory a person making 114,00 per year actually nets 34,770 (roughly)
while another person who earns 94,000 per year nets 34,780. Heck, a person making 69,000 nets 32,085!!
Does anyone else see anything wrong with that? |
Umm yeah, he mislabeled it, it's provincial + federal. And anyways, it's a progressive tax scheme, so your first 8k is tax free, then the next 13k (ro hwoever much) is at 18%, then the next 10k is at 22% and so on... plus then there are things you cna do to reduce them.
We also have a 7% GST which is put onto most purchases (but not all) and almost all of the provinces have a PST (a sales tax) except Alberta.
Taxes are higher here, but our social net are better, so take your pick I guess.