Quote:
Originally Posted by Leondros
This is a load of crap - please give me your professional background as to how you can make this comment or alternatively some documented real examples.
My wife is a CPA and a tax practitioner dealing with very high wealth individuals. If they are making $10M in a year personally, they are paying MORE than 40% in their marginal tax rates. There are only so many levers that can be pulled here in Canada that can reduce your rates - ie. charities, income splitting, personal corps, RRSPs, TFSAs, etc.
|
Quote:
|
The overall effective tax rate for Canada's top 1% of tax filers edged down from 31.3% in 2016 to 31.0% (correction) in 2017. This was due, in part, to lower provincial effective tax rates for the top 1%.
|
https://www150.statcan.gc.ca/n1/dail...90924b-eng.htm
So no, not 40 ,or around 50%, which is the top actual tax bracket with provincial share. So they are paying ~20% less effective tax, which is all I was getting at.