40%? I make close to 100k a year and after my RRSP deduction my average tax rate is about 20%. Either you're raking in over a million a year or you're doing something wrong.
Yeah, my income tax is about 20% at a 100k income a year.
I know that there are other taxes like PST, GST, property taxes and the carbon tax, but there are also benefits from the Government. I get about $8k in child benefits from the federal government. More than enough to cover my property tax and carbon tax every year twice.
The cap is at $250k (household income). If you make less than that, you get child benefits with up to $7k per child and year (but only if you're at poverty level, so like $25k a year income). I get $8k a year for three children.
40%? I make close to 100k a year and after my RRSP deduction my average tax rate is about 20%. Either you're raking in over a million a year or you're doing something wrong.
Yeah, my income tax is about 20% at a 100k income a year.
I know that there are other taxes like PST, GST, property taxes and the carbon tax, but there are also benefits from the Government. I get about $8k in child benefits from the federal government. More than enough to cover my property tax and carbon tax every year twice.
The cap is at $250k (household income). If you make less than that, you get child benefits with up to $7k per child and year (but only if you're at poverty level, so like $25k a year income). I get $8k a year for three children.