Calculate Tax Bracket (Canadian)
The rate at which an individual is taxed. Tax brackets are set based on income levels; individuals with lower income levels are taxed at a lower rate.
The rate at which an individual is taxed. Tax brackets are set based on income levels; individuals with lower income levels are taxed at a lower rate.
So, what does this mean to you? In order to reduce the amount of taxes your pay, be sure to maximize your RRSP contributions. In doing so, you defer payment of taxes until you are in a smaller tax bracket upon retirement.
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