Thread: Taxes

What are the income tax rates in Canada?

Federal tax rates for 2007 are:

• 15% on the first $37,178 of taxable income, +
• 22% on the next $37,179 of taxable income (on the portion of taxable income between $37,178 and $74,357), +
• 26% on the next $46,530 of taxable income (on the portion of taxable income between $74,357 and $120,887), +
• 29% of taxable income over $120,887.

Thats not a bad tax rate considering that you get all or more of the government services you get here, plus health care...

I don't know if you would like Canada's tax plan. You pay more in taxes if you make less money and pay less in taxes if you make more money.

I think it's way to high. Not to get of subject but I read today that most returns will not be able to be cashed until June this year.

Back on track, taxes are to high, IMO it's due to waste be the federal government doing the jobs that in most cases are best left to the states. Education is one that hit hard in this area.

Provincial income taxes add between 5- 18% on those figures when all is said and done, depending on the tax bracket and the province in question. Further there is a national sales tax (GST -Goods and Services Tax) of 6% on every purchase, and every provinces except for Alberta has a provincial sales tax between 5-10%. Like the United States, taxes vary significantly depending on where you are in the country and just how much you earn or spend.

The income tax rates in Canada are significantly lower than most Western European nations, despite being higher than what’s commonly seen in America. They strike a proper balance between in my view between the relatively under-taxed United States (yeah shoot me) and certain overtaxed European nations.

It wouldn't be too bad "IF" we actually got health care or a big part of it, but people such as myself don't get any health care, where do you get that from ? Are you talking about Canada ?

The government nor the state will give me a dime of help until I'm totally broke and lost everything I worked for my entire life for, while they willingly give the bums and illegal immigrants free health care without any questions asked !

We need a new fair tax rate that might include a partial payment of any private health plan we want to purchase, maybe pay 1/3 of the premium directly and we pay the rest, just help make good health care affordable to most of us.

Perhaps a national tax with a real simple set of rules almost anyone can understand that don't have so many tax brackets would help, then we wouldn't need so many people to run the IRS, that would save our government a LOT of money too.

Bottom line is, if all the Senators and Congressmen had to get exactly the same health care we did I bet they'd fix it real quick !

PS: I'm talking about the tax in the United States, Canada is another story, anyway if their health Care was of e qual quality to what we get here it would be even better but their health system is slow, and many die before they receive the health care they critically need, which is why many come here to have critical health care done, that's not a good thing.

Originally Posted by Acebass

What are the income tax rates in Canada?

Federal tax rates for 2007 are:

• 15% on the first $37,178 of taxable income, +
• 22% on the next $37,179 of taxable income (on the portion of taxable income between $37,178 and $74,357), +
• 26% on the next $46,530 of taxable income (on the portion of taxable income between $74,357 and $120,887), +
• 29% of taxable income over $120,887.

Thats not a bad tax rate considering that you get all or more of the government services you get here, plus health care...

Wow, I make under 37,178 and I get taxes 28% of my income (average between two jobs).

Originally Posted by shadow2008

It wouldn't be too bad "IF" we actually got health care or a big part of it, but people such as myself don't get any health care, where do you get that from ? Are you talking about Canada ?

The government nor the state will give me a dime of help until I'm totally broke and lost everything I worked for my entire life for, while they willingly give the bums and illegal immigrants free health care without any questions asked !

We need a new fair tax rate that might include a partial payment of any private health plan we want to purchase, maybe pay 1/3 of the premium directly and we pay the rest, just help make good health care affordable to most of us.

Perhaps a national tax with a real simple set of rules almost anyone can understand that don't have so many tax brackets would help, then we wouldn't need so many people to run the IRS, that would save our government a LOT of money too.

Bottom line is, if all the Senators and Congressmen had to get exactly the same health care we did I bet they'd fix it real quick !

PS: I'm talking about the tax in the United States, Canada is another story, anyway if their health Care was of e qual quality to what we get here it would be even better but their health system is slow, and many die before they receive the health care they critically need, which is why many come here to have critical health care done, that's not a good thing.

Thank you, well said.

Originally Posted by freckles

I don't know if you would like Canada's tax plan. You pay more in taxes if you make less money and pay less in taxes if you make more money.

Kinda like here then.