marginal tax rates

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Canada's new top federal tax rate of 33 per cent is being layered on top of several tax increases by the provinces.


11:03AM
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In Ontario, the top combined federal and provincial personal income tax rate is 53.5 per cent.


8:53AM
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An "implicit tax" is implicit only in the sense that it doesn’t officially appear in the income tax code.


11:11AM
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October 1 marks an important day for Alberta. It’s when the province officially moves away from a single 10 per cent tax rate on personal income to a system with five separate brackets.


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After seven years of budget deficits and over $160 billion in new debt, the federal government confirmed in its financial update Wednesday that it expects to record a surplus next year.


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Prime Minister Stephen Harper recently announced his government will introduce income splitting for tax purposes at an annual cost of roughly $2 billion.