Question
Which of the following statements with respect to an individual's income tax payable is NOT correct? Question content area bottom Part 1 A. Only federal
Which of the following statements with respect to an individual's income tax payable is NOT correct?
Question content area bottom
Part 1
A.
Only federal income taxes apply with respect to individuals who are residents of Canada but who are not a resident in any province or territory.
B.
All provinces and territories use the same income tax brackets.
C.
The relevant provincial income tax rate is based on the province in which the individual resides on December 31 of the year.
D.
Provincial income tax payable is calculated by applying the appropriate rate to taxable income.
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