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a ) Assuming only the basic personal tax credit, how much federal tax would an individual have to pay on $ 5 0 , 0
a Assuming only the basic personal tax credit, how much federal tax would an individual have to pay on $ of taxable income in
b How would the answer to a above change if the taxable income was $
c Considering only federal taxes, if the same individual as a and b above had $ of taxable income, what would the marginal and average tax rates be
d What is the combined federal and provincial marginal tax rate for an individual living in British Columbia who has taxable income of $ in
e How much combined federal and provincial tax would an individual living in British Columbia have to pay on $ of taxable income in
f Suppose a husband and wife living in British Columbia were to each earn $ie their family income is $ how much combined federal and provincial tax would this family have to pay in
g What is the difference in total tax owing to federal and provincial governments, between e and f above? Why does this difference arise? What is the tax planning strategy that attracts taxpayers on account of this set of circumstances?
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