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| *The Commerce Journal>>>Canada Taxes |
What is the ratio between salary rates and taxes in manitoba? |
taxes in procentage compare with income values Canada Has Marginal Tax rates. The rate of tax gets progressively higher as your taxable income increases. I've provided the link to the appropriate area of the CRA website: http://www.cra-arc.gc.ca/tax/individuals... Federal tax rates for 2007 are: 15.5% on the first $37,178 of taxable income, + 22% on the next $37,179 of taxable income (on the portion of taxable income between $37,178 and $74,357), + 26% on the next $46,530 of taxable income (on the portion of taxable income between $74,357 and $120,887), + 29% of taxable income over $120,887. Manitoba 10.9% on the first $30,544 of taxable income, + 13% on the next $34,456, + 17.4% on the amount over $65,000 Bear in mind that both the provincial and federal governments have non-refundable tax credits and deductions that you'd have to consider as well. An idea you might consider is trying the online payroll calculator from CRA: http://www.cra-arc.gc.ca/eservices/tax/b... I would assume that the system is about the same as the US. The percentage of tax begins with $0 and moves up according to the amount you earn. Example (not necessary correct): Earnings = $20,000 and tax is 10%. Earnings = $30,000 and tax is 12%. You might be able to get some information from the Canada website. |
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