Karen lives in Ontario and her gross annual taxable income is $61,700.

 

Provincial Tax Brackets	Provincial Tax Rates		Federal Tax Brackets	Federal Tax Rates
$0.00 to $9,574.00	0%		$0.00 to $11,038.00	0%
$9,574.01 to $39,723.00	5.05%		$11,038.01 to $43,561.00	15%
$39,723.01 and above	9.15%		$43,561.01 and above	22%

 

a) How much provincial income tax is owed?

b) How much federal income tax is owed?

c) What is the income after both provincial and federal taxes have been deducted ?

 

Answer rating: 100% (QA)

Step 1 calculation of provincial income tax ... View the full answer