Why is it important to increase the income tax brackets yearly?

2) Based on the below tables how much Federal and provincial income tax would be payable on income of $175,000 in Ontario?

3) What is the average tax rate on income of $225,000 in British Columbia? 4) What is the marginal tax rate on income on income of $195,000 in Nova Scotia? 5) What is the reason for a Dividend Gross up on Dividends paid by eligible corporation? 6) What is the difference between a refundable tax credit vs non refundable tax credit? 7) Calculate the Age Tax Credit on someone who is 68 years old and has an income of $45,000 a year? 8) At what income level would the Age Tax credit be reduced to $0.00 9) What would the Old Age Security Claw back amount be on someone who had net income of $85,000?

10) If an employee had CPP and EI Deducted from its paystub during the year of $2800 and $700 respectively how much would the employer had also have contributed towards CPP and EI?