When Jacob completed his original tax return, his total income was $54,000 and total taxes were $11,450.

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When Jacob completed his original tax return, his total income was $54,000 and total taxes were $11,450. CRA located a $300 T5 slip and re-assessed his return resulting in his total taxes increasing to $11,593. What is Jacob's marginal tax rate?

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

Posted Date: May 24, 2023 12:28 AM

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When Jacob completed his original tax return, his total income was $54,000 and total taxes were $11,450.

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Jacobs marginal tax rate we need to determine the change in taxes due to the ad... View the full answer

Income Tax Fundamentals 2013

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