Question
Please help me to solve these questions. I have answers but do not know the solution. a. Given the marginal tax information in the table
Please help me to solve these questions. I have answers but do not know the solution.
a. Given the marginal tax information in the table below, indicate the after tax monthly income Aman should expect from his retirement income? Aman expects $14,060 annual income from the combination of his CPP and OAS and $14,000 from his RRIF.
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b. Use the the marginal tax information in the table below to calculate the after tax monthly income Kelly should expect from her retirement income. Kelly expects $13,775 annually from CPP, $7,907 annually from OAS, and $118,000 from her RRIF. Assume that her OAS will be clawed back on any income above $76,000.
Correct Answer: | 7,967 1 |
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