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Table needed provided below: Question 6 Refer to the combined 2018 Federal and Quebec personal income taxes rates in Table A. During 2018, Abdel earned
Table needed provided below:
Question 6 Refer to the combined 2018 Federal and Quebec personal income taxes rates in Table A. During 2018, Abdel earned $112,000 from his position as an analyst at AGF Mutual Funds. Both he and his employer contributed $5,000 each to his RPP, while Abdel also contributed $7,000 to an RRSP and paid $3,500 in medical expenses. What was Abdel's average tax rate in 2018? a) 29.89% b) 31.41% c) 33.70% d) 35.71% TABLE A 2018 Combined Federal and Quebec Personal Income Tax Brackets and Tax Rates 2018 Taxable Income 2018 Tax Rates 2018 Taxable Income 2018 Tax Rates first $43,055 27.53% over $93,208 up to $104,765 45.71% over $43,055 up to $46,605 over $104,765 up to $144,489 47.46% 32.53% over $46,605 up to $86,105 over $144,489 up to $205,842 37.12% 49.97% over $86,105 to $93,208 over $205,842 41.12% 53.31%Step by Step Solution
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