4 ms·
Marginal tax rate is a weird way to look at it when you list a specific salary. You should use the actual effective tax rate that person would pay, which is 34.
by ec109685 6y ago
Marginal tax rate is a weird way to look at it when you list a specific salary. You should use the actual effective tax rate that person would pay, which is 34.8%, fico, state and federal.
- refurb 6y agoIt's helpful for people making high incomes, but yes, you're correct, it doesn't provide much clarity on the actual taxes paid. At $220,000 CAD, the tax rate in BC (one of the lowest in Canada other than Alberta) would be 35.8%. In Quebec, it would be 42%.