Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Kaldika is a BC resident earning $88,000 in 2022. 2022 Taxable Income 2022 Combined Marginal Tax Rate $0 to $43,070 20.06% $43,070 to $50,197 22.70%

  1. Kaldika is a BC resident earning $88,000 in 2022.

2022 Taxable Income

2022 Combined Marginal Tax Rate

$0 to $43,070

20.06%

$43,070 to $50,197

22.70%

$50,197 to $86,141

28.20%

$86,141 to $98,901

31.00%

$98,901 to $100,392

32.79%

Basic Tax Credits:

Federal basic personal amount: 15% x $14,398

Provincial basic personal amount: 5.06% x $11,302

What is Kaldikas gross tax payable with the tax credits applied?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

What purpose does an accounting system serve?

Answered: 1 week ago