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79. Jason's total income is $64,000; his tax payable is $17,500. Jason is in a 22% federal tax bracket and a 9.15% provincial tax bracket.
79. Jason's total income is $64,000; his tax payable is $17,500. Jason is in a 22% federal tax bracket and a 9.15% provincial tax bracket. What statement is true? a) Jason's marginal tax rate is less than his average tax rate. b) Jason's average tax rate is less than his marginal tax rate. Jason's average tax rate is equal to his marginal tax rate. d) If Jason claims a $10,000 tax credit, his income will drop into a lower tax bracket.
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