Subject category:
Finance, Accounting and Control
Published by:
Ivey Publishing
Version: 2013-02-26
Revision date: 20-Mar-2013
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Abstract
This note explains how federal taxes payable are computed for an individual taxpayer. The mechanics underlying Canada's progressive tax structure are reviewed in order to determine taxes payable and how marginal tax rates vary with income. The main tax credits available to an individual are considered as well as associated tax planning opportunities. Several short problems are provided at the end of the note.
Industry:
Size:
Canada
About
Abstract
This note explains how federal taxes payable are computed for an individual taxpayer. The mechanics underlying Canada's progressive tax structure are reviewed in order to determine taxes payable and how marginal tax rates vary with income. The main tax credits available to an individual are considered as well as associated tax planning opportunities. Several short problems are provided at the end of the note.
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Industry:
Size:
Canada