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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
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 $13,890 annually from CPP, $7,470 annually from OAS, and $123,000 from her RRIF. Assume that her OAS will be clawed back on any income above $76,000. Simplified Marginal Tax Table Beginning of range End of range Tax at start of Marginal rate range to 0% to 15% to 22% to 12,000 20,000 48,000 95,000 148,000 210,000 above 12,000 20,000 48,000 95,000 148,000 210,000 30% to 1,200 7,360 21,460 42,660 70,560 40% to 45% + 50% 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 $13,890 annually from CPP, $7,470 annually from OAS, and $123,000 from her RRIF. Assume that her OAS will be clawed back on any income above $76,000. Simplified Marginal Tax Table Beginning of range End of range Tax at start of Marginal rate range to 0% to 15% to 22% to 12,000 20,000 48,000 95,000 148,000 210,000 above 12,000 20,000 48,000 95,000 148,000 210,000 30% to 1,200 7,360 21,460 42,660 70,560 40% to 45% + 50%
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