Quote:
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Originally Posted by j8ear
Aside from the beautiful scenery, wonderful people, my family, my heritage, and an excellent all around play ground for it's protector and big brother to the south, Canada is many things.
Including:
1. 60% percent income tax rates
-bear
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huh????
here are the federal tax levies by income margin for 2004:
Canadian federal income tax is calculated based on taxable income minus allowable deductions. In 2004, every taxpayer could earn $8,012 without paying any federal tax. This is called the ‘basic personal amount’. The federal taxable income groups and their respective tax rates for 2004 are:
2004 taxable income
Tax rate
Up to $35,000
16%
$35,001 to $70,000
22%
$70,001 to $113,804
26%
Over $113,804
29%
from:
http://canadianeconomy.gc.ca/english...ncome_tax.html
not sure where the 60% comes from....