Question: Which statements is correct? Provincial tax is calculated as a percentage of federal Tax Payable. The general rate reduction percentage is applied to full rate

Which statements is correct?

Provincial tax is calculated as a percentage of federal Tax Payable.

The general rate reduction percentage is applied to full rate taxable income.

The basic federal tax rate is equal to 28 percent of Taxable Income.

The federal tax abatement is always equal to 10 percent of Taxable Income.

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