A province's progressive income tax rates are structured as follows: 5.05% tax on the first $39,723 of
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A province's progressive income tax rates are structured as follows: 5.05% tax on the first $39,723 of taxable income; 9.15% on the next $39,725; 11.16% on the next $429,552; and 13.16% on any additional taxable income. Rounded to the nearest 0.01%, what percentage is an individual's total income tax of his (taxable) income if his taxable income for a year is:
a. $33,000?
b. $66,000?
c. $185,000?
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Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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