PERSONAL RATES OF INCOME TAX
FOR THE YEAR ENDED DECEMBER 31, 2010
|
On the first $40,970 |
On the next $40,970 |
On the next $45,081 |
On the next $22,979 |
Total $150,000 |
|
| Cumulative Tax Brackets | 40,970 | 81,940 | 127,021 | 150,000 | 150,000 |
|
Incremental Federal Tax |
4,431 | 9,013 | 11,721 | 6,664 | 31,829 |
|
Incremental Ontario Tax |
1,776 | 4,437 | 7,849 | 4,000 | 18,062 |
| Ontario Health Premium | 450 | 300 | 0 | 0 | 750 |
|
Total Incremental Tax |
6,657 | 13,750 | 19,570 | 10,664 | 50,641 |
|
Federal Tax Rate |
10.82% | 22.00% | 26.00% | 29.00% | 21.22% |
|
Ontario Tax Rate |
4.33% | 10.83% | 17.41% | 17.41% | 12.04% |
|
Ontario Health Premium |
1.10% | 0.73% | 0.00% | 0.00% | 0.50% |
| Total Incremental Tax Rates | 16.25% | 33.56% | 43.41% | 46.41% | 33.76% |
CORPORATE RATES OF INCOME TAX
FOR THE YEAR ENDED DECEMBER 31, 2010
| Period | On first $500,000 | Above $500,000 |
| June 30, 2010 | 16.50% | 36.75% |
| December 31, 2010 | 16.00% | 33.10% |
| June 30, 2011 | 15.50% | 29.26% |
COMMITTED TO REDUCING THE INCOME TAXES THAT YOU PAY