Calculate the tax difference between a British Columbia resident and a Quebec resident both having $20,000 in interest income and $25,000 in capital gains Combined marginal tax rates for individuals in top provincial tax brackets Provinces Territories Interest and Regular Income ( ) Capital Gains ( ) Eligible Dividends ( ) Non eligible Dividends ( ) British Columbia 45 80 22 90 28 68 37 98 Alberta 39 00 19 50 19 29 29 36 Saskatchewan 44 00 22 00 24 81 34 91 Manitoba 46 40 23 20 32 27 40 77 Ontario 49 53 24 77 33 82 40 13 Quebec 49 97 24 99 35 22 39 79 New Brunswick 46 84 23 42 27 35 36 02 Nova Scotia 50 00 25 00 36 06 39 07 Prince Edward Island 47 37 23 69 28 71 38 74 Newfoundland and Labrador 42 30 21 15 30 20 32 08

Question

Calculate the tax difference between a British Columbia resident and a Quebec resident both having $20,000 in interest income and $25,000 in capital gains  Combined marginal tax rates for individuals in top provincial tax brackets Provinces Territories Interest and Regular Income ( ) Capital Gains ( ) Eligible Dividends ( ) Non eligible Dividends ( ) British Columbia 45 80 22 90 28 68 37 98 Alberta 39 00 19 50 19 29 29 36 Saskatchewan 44 00 22 00 24 81 34 91 Manitoba 46 40 23 20 32 27 40 77 Ontario 49 53 24 77 33 82 40 13 Quebec 49 97 24 99 35 22 39 79 New Brunswick 46 84 23 42 27 35 36 02 Nova Scotia 50 00 25 00 36 06 39 07 Prince Edward Island 47 37 23 69 28 71 38 74 Newfoundland and Labrador 42 30 21 15 30 20 32 08

Accepted Answer

The Answer is in the image, click to view ...

Question

Calculate the tax difference between a British Columbia resident and a Quebec resident both having $20,000 in interest income and $25,000 in capital gains. Combined

Step by Step Solution

Step: 1

Get Instant Access with AI-Powered Solutions

Step: 2

Step: 3

Ace Your Homework with AI