The Useless East Canada thread!
03-12-2008, 10:14 AM
#1870
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For thos who think we pay too much taxes :P We do, but it's not that bad relatively....
http://www.economist.com/daily/chart...ry_id=10835581
http://www.economist.com/daily/chart...ry_id=10835581
03-12-2008, 10:50 AM
#1871
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^^ are those numbers correct tho? according to the graph, we only pay just over 15% for income tax? our rates are higher than that, even when you're in the lowest income bracket 
03-12-2008, 11:05 AM
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oh wait, that is correct .. they're basing it on the lowest bracket:
Federal tax rates for 2008 are:
15% on the first $37,885 of taxable income, +
22% on the next $37,884 of taxable income (on the portion of taxable income between $37,885 and $75,769), +
26% on the next $47,415 of taxable income (on the portion of taxable income between $75,769 and $123,184), +
29% of taxable income over $123,184.
Source: http://www.cra-arc.gc.ca/tax/individ...axrates-e.html
Federal tax rates for 2008 are:
15% on the first $37,885 of taxable income, +
22% on the next $37,884 of taxable income (on the portion of taxable income between $37,885 and $75,769), +
26% on the next $47,415 of taxable income (on the portion of taxable income between $75,769 and $123,184), +
29% of taxable income over $123,184.
Source: http://www.cra-arc.gc.ca/tax/individ...axrates-e.html
03-12-2008, 11:22 AM
#1875
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*sigh*
i remember when i was 15, i worked in a computer company like canada computers in markham. they paid me under the table CASH which would be equiv. to $10 an hour pre-tax ... how i miss those days
i remember when i was 15, i worked in a computer company like canada computers in markham. they paid me under the table CASH which would be equiv. to $10 an hour pre-tax ... how i miss those days
03-12-2008, 11:29 AM
#1876
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Originally Posted by goneinsixtyseconds
*sigh*
i remember when i was 15, i worked in a computer company like canada computers in markham. they paid me under the table CASH which would be equiv. to $10 an hour pre-tax ... how i miss those days
i remember when i was 15, i worked in a computer company like canada computers in markham. they paid me under the table CASH which would be equiv. to $10 an hour pre-tax ... how i miss those days
03-12-2008, 12:30 PM
#1877
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Originally Posted by noodleman
you mean after taxes you make less than $10/hr now?!?
what i meant was that i miss those days where you didn't get a HUGE chunk of your pay taken away from taxes .. NO QUESTIONS ASKED CASH TRANSACTIONS FTW! 
03-12-2008, 01:36 PM
#1878
that graph is based on a single income average income with no children.
Federal tax rates for 2008 are:
15% on the first $37,885 of taxable income, +
22% on the next $37,884 of taxable income (on the portion of taxable income between $37,885 and $75,769), +
26% on the next $47,415 of taxable income (on the portion of taxable income between $75,769 and $123,184), +
29% of taxable income over $123,184.
and that chart is based on federal only.... provincial income tax is added on top of that...
Federal tax rates for 2008 are:
15% on the first $37,885 of taxable income, +
22% on the next $37,884 of taxable income (on the portion of taxable income between $37,885 and $75,769), +
26% on the next $47,415 of taxable income (on the portion of taxable income between $75,769 and $123,184), +
29% of taxable income over $123,184.
and that chart is based on federal only.... provincial income tax is added on top of that...
03-12-2008, 01:40 PM
#1879
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Originally Posted by goneinsixtyseconds
if that were true, i think i'd go on welfare paying for gas on my z what i meant was that i miss those days where you didn't get a HUGE chunk of your pay taken away from taxes .. NO QUESTIONS ASKED CASH TRANSACTIONS FTW!
what i meant was that i miss those days where you didn't get a HUGE chunk of your pay taken away from taxes .. NO QUESTIONS ASKED CASH TRANSACTIONS FTW!
03-12-2008, 01:41 PM
#1880
provincial
6.05% on the first $36,020 of taxable income, +
9.15% on the next $36,021, +
11.16% on the amount over $72,041
Federal
15% on the first $37,885 of taxable income, +
22% on the next $37,884 of taxable income (on the portion of taxable income between $37,885 and $75,769), +
26% on the next $47,415 of taxable income (on the portion of taxable income between $75,769 and $123,184), +
29% of taxable income over $123,184.
= *** rapeage = I am going to become my own corporation this year.
flat tax rate http://www.2ontario.com/facts/fact09.asp
of just 34.12%
6.05% on the first $36,020 of taxable income, +
9.15% on the next $36,021, +
11.16% on the amount over $72,041
Federal
15% on the first $37,885 of taxable income, +
22% on the next $37,884 of taxable income (on the portion of taxable income between $37,885 and $75,769), +
26% on the next $47,415 of taxable income (on the portion of taxable income between $75,769 and $123,184), +
29% of taxable income over $123,184.
= *** rapeage = I am going to become my own corporation this year.
flat tax rate http://www.2ontario.com/facts/fact09.asp
of just 34.12%