Quote:
Originally Posted by RedHot25
In 2005, according to Stats Canada, a family of 5, in a city the size of Calgary (well, 500,000 and over) the LICO rate is $44,000. So, given that this number is a couple of years old, and given the context of Calgary and its growth....50 grand/year is at the poverty line.
|
Ok, that makes sense. Do the tax brackets take these numbers into account? I was under the impression that 50k and up was hitting the upper brackets. Anything lower then 20k was poverty line and not taxable.