Re: tax motivation? @gooch re: staying Canadian
posted on
Jul 31, 2014 10:29AM
The corporate tax rates in Canada are a combination of Federal tax (15%) and provincial taxes(varies). The total ranges from 25% to over 30% depending on the Province. There are also municipal taxes that can apply to increase that rate. So, rates are not the same from coast to coast.
Personal taxes for the maximum tax brackets in Canada can range from 39.5% to 52.5% depending on the province. From a personal tax level there is also a 5% federal sales tax and some provinces have additional sales taxes of up to 7% for a range of 5-12% goods and services tax. This tax is over and above the personal tax rate.
Needless to say, Canada is not a low tax Country.