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The table below shows 2021 federal income-tax rates in Canada.Taxable IncomeMarginal Tax Rate$0 - ...

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The table below shows 2021 federal income-tax rates in Canada.Taxable IncomeMarginal Tax Rate$0 - ...

The table below shows 2021 federal income-tax rates in Canada.

Taxable Income	Marginal Tax Rate
$0 - $49 020	15%
$49 021 - $98 040	20.5%
$98 041 - $151 978	26%
$151 979 - $216 511	29%
$216 512 and over	33%

TABLE 18-1

Refer to Table 18-1. If an individual had a taxable income of $120 000, how much federal tax would be due from the earnings taxed at the minimum rate of 15%?

▸ $8003

▸ $31 200

▸ $0

▸ $18 000

▸ $7353

Textbook

Microeconomics

Edition: 17^th

Author: Ragan

Read 56 times

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Thank you, thank you, thank you!

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You make an excellent tutor!

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