Question: Using Table 3.7, calculate the combined federal and provincial marginal and average tax rates for both an Albertan and Newfoundlander with the following incomes: a.
Using Table 3.7, calculate the combined federal and provincial marginal and average tax rates for both an Albertan and Newfoundlander with the following incomes:
a. $20,000
b. $60,000
c. $ 100,000
d. $3,000,000
Table 3.7
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Tax Rates and Taxable Income Brackets, 2014 Income Bracket, $ Income Bracket, $ Rate, % Rate, % Federal New Brunswick O-43953 9.68 15.00 0-39.305 14.82 43.954-87907 39,306-78,609 22.00 26.00 87,908-136,270 16.52 78,610-127,802 136,721 and over 127,803 and over 17.84 29.00 British Colombia Nova Scotia 5.06 0-37,606 8.79 0-29,590 37,607-75,213 29.591-59180 7.70 14.95 16.67 10.50 75,214-86,354 59,181-93,000 12.29 86,355-104.858 17.50 93,001-150,0o0 150,001 and over 104,859-150,000 14.70 21.00 150,001 and over 16.80 All income Prince Edward Island Alberta 9.80 0-31,984 10.00 13.80 31985-63.969 16.70 63.970 and over Saskatchewan Newfoundland and Labrador 11.00 0-43,292 770 0-34,254 43,293-123,692 34,255-68,508 13.00 12.50 123,693 and over 68,509 and over 15.00 13.30 Manitoba Yukon . 0-31,000 7.04 O-43.953 31,001-67,000 9.68 43.954-87,907 12.75 67,001 and over 87,908-136,270 17.40 11.44 136,271 and over 12.76 Ontario Northwest Territories 0-39,808 5.05 0-40,120 5.90 40,121-B0,242 8.60 39,809-79,618 9.15 11.16 80,243-150,00o 79.619-129.441 12.20 12.16 129,442 and over 150,001-220,000 14.05 220,001 and over 13.16 Quebec Nunavut 16.00 0-41.495 4.00 O-41,909 41.496-82,985 41910-83,818 20.00 7.00 82,986-100,970 9.00 83,819-136,270 24.00 100,971 and over 136,271 and over 25.75 11.50
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