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Author Question: The table below shows 2021 federal income-tax rates in Canada.Taxable IncomeMarginal Tax Rate$0 - ... (Read 71 times)

ksmithunr

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Question 1

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

Taxable IncomeMarginal Tax Rate
$0 - $49 02015%
$49 021 - $98 040  20.5%
$98 041 - $151 97826%
$151 979 - $216 51129%
$216 512 and over33%

TABLE 18-1

Refer to Table 18-1. If an individual had a taxable income of $120 000, how much total federal tax would be due?
◦ $7353
◦ $10 049
◦ $31 200
◦ $39 600
◦ $23 111

Question 2

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

Taxable IncomeMarginal Tax Rate
$0 - $49 02015%
$49 021 - $98 040  20.5%
$98 041 - $151 97826%
$151 979 - $216 51129%
$216 512 and over33%

TABLE 18-1

Refer to Table 18-1. If an individual had a taxable income of $200 000, how much total federal tax would be due?
◦ $45 353
◦ $31 200
◦ $47 669
◦ $30 000
◦ $58 000


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Marked as best answer by ksmithunr on Oct 12, 2022

aublw

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ksmithunr

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Reply 2 on: Oct 12, 2022
Wow, this really help


nathang24

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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