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Weigookin74
Joined: 26 Oct 2009
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 Posted: Mon Apr 16, 2012 5:08 am Post subject: |
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| Ontario and Alberta's income taxes may be lower, but there is an annual or quarterly health care tax that is levied too. But, I don't know how much it is. |
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Weigookin74
Joined: 26 Oct 2009
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| Posted: Mon Apr 16, 2012 3:57 pm Post subject: |
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| Hugo85 wrote: |
| The Cosmic Hum wrote: |
| Weigookin74 wrote: |
| The Cosmic Hum wrote: |
| Weigookin74 wrote: |
| Don't know where you were working. I was in the maritimes. My federal income tax, my provincial income tax, my employment insurance, and Canada pension plan totalled around 12 % of my paycheck every two weeks. |
I won't argue with your numbers...taxation is a complex animal.
But according to the latest tax rates
The federal tax alone is a basic 15%
Then add to that provincial taxes and the rest.
http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html
The other ouch is the sales tax...except for Alberta...cruising in at 5%...most provinces go from 10-15%....ouch...double up...ouch ouch!! |
The first 10,000 is tax free. If you make 25,000, you pay tax on 15,000 of income. Americans pay tax on 25,000 of income. The reason everyone has this basic deduction is to help poorer people. EI ans CPP premiums are so much per hundred dollars of income. Many provinces charge 9 per cent income taxes at the lowest rate. But the first 8 to 10 grand is also exempt from taxes depending on which province you live in. So, total if you are under 30 or even 25 K as a single person works out to around 12 per cent of your total pay check gone. But, in the 90's was much higher per centage as Canada was fighting a huge national debt. |
hmm...
Americans also get standard deductions and personal exemptions...which come pretty close to the $10,000 mark...$9,500.
When you add the lowest highest-level provincial tax...again Alberta at 10%...then the total tax would be roughly 39%...not sure what the state tax is.
When you add the provincial sales taxes...things really add up and overall Canadian taxes take a hefty bite out of wallet.
But, and this is a pretty big but...basically, my original point was, along with the Captain,
I have never once heard a Canadian speak of low tax rates....until now that is. 
By the way...in keeping with big butts. 
http://www.youtube.com/watch?v=reTx5sqvVJ4 |
That is a maximum tax rate for the money earned over 132,406$ though, if one earns 132k a year in alberta then they pay 28,020 to federal and 13,241$ to provincial which works out to 31.16% of income.
Although Quebec really does pay high taxes it isn't so bad in the rest of Canada, especially when you consider health care is included. |
You'd make a good tax collector. Not how it works, check my previous table.  |
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