Quote:
Originally Posted by MaDMaN_26
ok, that makes sense... what did the number used to be?
Oh and since the 15% is on the first "Taxable" income then you'd have to be making $46,778.00 or more in order to realize the full $185.89 savings per year with .5% cut. ($37,178.00 + $9,600.00)
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What it means is that for the first $9,600 you make, you will pay no
federal taxes.
From $9600.01 to $37,178, you will pay 15%.
Then from $37,178.01 to $X, you pay a little more. And so on.
There are some very good tax calculators for Canadians at:
http://www.walterharder.com/index.asp
ers