1. ahakobyan's Avatar
    Hi all,

    I have recently faced with a problem to calculate the taxes on incomes by the Canadian tax rates.

    So after having very long research, finally I have found the formula by which the governments take almost half of our incomes (even more)

    So I would like to share my research results with you. I believe that it will help lots of you!

    Just a reference to a calculator which will IMMEDIATELY calculate for you the taxes:

    Find "salcalc" in google play store.


    And the method how it is done: (unfortunately I am unable to past here links)
    Federal Tax Rates:
    15% on $0 – $42,707
    22% on $42,708 – $85,414
    26% on $85,415 – $132,406
    29% on $132,406 and over

    and plus the provincial tax rates which are the followings:

    Newfoundland and Labrador
    7.7% on the first $34,254 of taxable income, +
    12.5% on the next $34,254, +
    13.3% on the amount over $68,508

    Prince Edward Island
    9.8% on the first $31,984 of taxable income, +
    13.8% on the next $31,985, +
    16.7% on the amount over $63,969

    Nova Scotia
    8.79% on the first $29,590 of taxable income, +
    14.95% on the next $29,590, +
    16.67% on the next $33,820, +
    17.5% on the next $57,000, +
    21% on the amount over $150,000

    New Brunswick
    9.68% on the first $39,305 of taxable income, +
    14.82% on the next $39,304, +
    16.52% on the next $49,193, +
    17.84% on the amount over $127,802

    Ontario
    5.05% on the first $40,120 of taxable income, +
    9.15% on the next $40,122, +
    11.16% on the next $69,758, +
    12.16% on the next $70,000, +
    13.16 % on the amount over $220,000

    Manitoba
    10.8% on the first $31,000 of taxable income, +
    12.75% on the next $36,000, +
    17.4% on the amount over $67,000

    Saskatchewan
    11% on the first $43,292 of taxable income, +
    13% on the next $80,400, +
    15% on the amount over $123,692

    Alberta 10% of taxable income

    British Columbia
    5.06% on the first $37,606 of taxable income, +
    7.7% on the next $37,607, +
    10.5% on the next $11,141, +
    12.29% on the next $18,504, +
    14.7% on the next $45,142, +
    16.8% on the amount over $150,000

    Yukon
    7.04% on the first $43,953 of taxable income, +
    9.68% on the next $43,954, +
    11.44% on the next $48,363, +
    12.76% on the amount over $136,270

    Northwest Territories
    5.9% on the first $39,808 of taxable income, +
    8.6% on the next $39,810, +
    12.2% on the next $49,823, +
    14.05% on the amount over $129,441

    Nunavut
    4% on the first $41,909 of taxable income, +
    7% on the next $41,909, +
    9% on the next $52,452, +
    11.5% on the amount over $136,270
    12-02-2014 04:28 PM
  2. SpookDroid's Avatar
    Death and taxes...ugh...
    12-02-2014 04:39 PM

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