so how bad does a person making say the bottom income bracked, something like 6,000 or 8,000 a year get railed on taxes, a percent or even a ballpark percent would be awesome!
the first 7000 or so is tax free, i believe. But i've been avoiding the tax man for several yrs, so i've kind of forgotten.
the bottom tax bracket in Canada is 32% according to my father. And you only have to file if you made more than a certain amount... which I think is around $7000 like Wideeyed said. More than what you pay in the states... but our system is totally different. Medicare and such things.
So the 32% kicks in on every dollar after 7000ish, this is probably a stupid question but then again at times Im just a stupid person
i don't have my t4 cuz i'm not home but i think i pay into the things like ei and cpp and stuff and then i pretty much get mine back in my return. i make under 15,000 gross a year as a single parent and i think i get a few hundred back?
yes, the 32% kicks in on every dollar after $7000. But... keep in mind that most of a person's taxes are taken off automatically before we get our paychecks, or at least they should be. As Jamaica said, we pay into Employment Insurance (ei) and the Canadian Pension Plan (cpp), and then the taxes on top of all that. That 32% I quoted you is the going rate in Saskatchewan. I don't know what it is in, say Nova Scotia. In Canada, the Province has more to do with the day to day running of things that the State does in the US. What I mean is that (and here I am making up percentages) I would pay like 60% of the total 32% needed to the Province, and the other 40% to the National government. Make sence? The Province controls most of the happenings in the province... like roads and education and the parks... although some of the money, or in some cases, most of the money is given to the province by the national government. Saskatchewan has less than a million people in it, and a lot of them don't pay taxes (the old and the young)... so a lot of our money does come from the National government. Hope I made things clearer... and not worse. lol.
