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Just out of curiosity, how do you end up with a 53% income tax rate? Federal: 33% of taxable income over $216,511 Provincial: 20.5% on the amount over $222,42

Just out of curiosity, how do you end up with a 53% income tax rate? Federal: 33% of taxable income over $216,511 Provincial: 20.5% on the amount over $222,420 (max, BC) Obviously the average rate will be far less than the marginal rate. https://www.canada.ca/en/revenue-agency/services/tax/individuals/frequently-asked-questions-individuals/canadian-income-tax-rates-individuals-current-previous-years.html https://www.canada.ca/en/revenue-agency/services/tax/individ...

markdown 5y ago
They don't end up with a 53% rate. Just a tax dodger who's trying to avoid giving back after they've benefited from a system.
- elevenoh 5y ago
  53% on all income over ~450k. Do you agree with this? I don't. So I look at other options.
- barbazoo 5y ago
  That's what I was thinking too.
  - elevenoh 5y ago
    Ay, cmon now.
digianarchist 5y ago
Canadians usually quote their top tax bracket than their effective rate. Effective rate is much lower obviously.
- elevenoh 5y ago
  Right. I kind of think like this by default.
elevenoh 5y ago
33% + 20% on all income over ~450k. Ofc the average is less than this top marginal rate. But it's quite the disincentive.