Question: Problem 18 The accounting firm you work for is preparing a booklet on personal tax, and the tax partner has asked you to prepare some

Problem 18 The accounting firm you work for is
Problem 18 The accounting firm you work for is preparing a booklet on personal tax, and the tax partner has asked you to prepare some of the material. She has asked you to calculate a generic marginal tax rate for individuals in the top tax bracket for each of the following types of income. Assume $10,000 of each type of income is earned. Employment Business Interest Eligible dividends Other Canadian dividends Capital gains To be able to move this into the publication easily she has asked you to use the following format: Tax Brackets over $200,000 Tax Rates By Bracket Federal rate . . . . 33% Provincial rate . 17% 50% Federal + provincial dividend tax credit = gross up Marginal Tax Rates Employment Business 9% Interest 96 Eligible dividends Other Canadian dividends Capital gains

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Law Questions!