2021 Taxable Income

2021 Combined Marginal Tax Rate

$0 to $42,184

20.06%

$42,184 to $49,020

22.70%

$49,020 to $84,369

28.20%

$84,369 to $96,866

31.00%

$96,866 to $98,040

32.79%

$98,040 to $117,623

38.29%

$117,623 to $151,978

40.70%

$151,978 to $159,483

44.02%

$159,483 to $216,511

46.12%

$216,511 to 222,420

49.80%

$222,420 +

53.50%

Robert Jones lives and works in Vancouver. His earned an annual income of $84,000 in year 2021. He bought 7,000 Bees shares for $7.15 per share in January 2021. In October 2021, he sold all of his shares for $9.11 per share. In December 2021, he bought 15,500 more Bees shares for $8.22 per share and sold them for $10.55 per share in the next month.

Calculate his total income tax payable and payroll deductions for 2021.

Select one: a. $23,419 b. $23,610 c. $25,561 d. $19,363