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Table of Personal Income
Tax Rates
|
2007 |
Marginal
Tax Rates Expressed in Percentages
|
| Tax
Bracket |
Regular
Income |
Capital Gains |
Regular Dividends |
Eligible Dividends |
|
0 - $8,929 |
0 |
0 |
0 |
0 |
|
$8,930
- $9,027 |
15.55 |
7.78 |
2.71 |
(2.55) |
|
$9,028
- $34,396 |
21.55 |
10.78 |
3.90 |
(13.65) |
|
$34,397
- $37,177 |
24.65 |
12.33 |
7.78 |
(9.16) |
|
$37,178
- $68,793 |
31.15 |
15.58 |
15.90 |
0.27 |
|
$68,794
- $74,356 |
33.70 |
16.85 |
19.09 |
3.97 |
| $74,357
- $78,983 |
37.70 |
18.85 |
24.09 |
9.77 |
|
$78,984
- $95,908 |
39.70 |
19.85 |
26.59 |
12.67 |
|
$95,909
- $120,887 |
40.70 |
20.35 |
27.84 |
14.12 |
|
$120,888
+ |
43.70 |
21.85 |
31.59 |
18.47 |
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A taxpayer with no other income may receive
regular dividends up to $31,860 tax
free.
-
A taxpayer with no other income may receive
eligible
dividends up to $66,245
tax free but
alternative minimum tax may apply.
-
Tax
rates exclude deductions for CPP and EI.
-
Tax
rates apply to British Columbia residents.
-
Maximum
CPP for employees - $1,989.90 ($43,700
maximum less $3,500 @ 4.95%).
-
Maximum
EI for employees - $720.00
($40,000 maximum insurable @ 1.80%)
-
Tax rates
exclude the B.C. tax reduction which is $375 minus 3.6% of income
in excess of $16,636.
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Table Of Corporate
Income Tax Rates
|
2007 |
Table of Corporate Income Tax Rates
|
|
Date |
Federal Small Business Limit |
B.C. Small Business Liimit |
Up to Federal Small Business
Limit |
Between Federal Small
Business Limit and B.C. Small Business Limit |
Above B.C. Small Business
Limit |
Investment Income |
Investment Income After
RDTOH |
|
Jan.31, 2007 |
$305,205 |
$400,000 |
17.62 |
26.62 |
34.12 |
47.79 |
21.12 |
|
Feb. 28, 2007 |
$316,164 |
$400,000 |
17.62 |
26.62 |
34.12 |
47.79 |
21.12 |
|
Mar. 31, 2007 |
$324,657 |
$400,000 |
17.62 |
26.62 |
34.12 |
47.79 |
21.12 |
|
Apr. 30, 2007 |
$332,877 |
$400,000 |
17.62 |
26.62 |
34.12 |
47.79 |
21.12 |
|
May 31, 2007 |
$341,370 |
$400,000 |
17.62 |
26.62 |
34.12 |
47.79 |
21.12 |
|
June 30, 2007 |
$349,589 |
$400,000 |
17.62 |
26.62 |
34.12 |
47.79 |
21.12 |
|
July 31, 2007 |
$358,082 |
$400,000 |
17.62 |
26.62 |
34.12 |
47.79 |
21.12 |
|
August 31, 2007 |
$366,575 |
$400,000 |
17.62 |
26.62 |
34.12 |
47.79 |
21.12 |
|
September 30, 2007 |
$374,795 |
$400,000 |
17.62 |
26.62 |
34.12 |
47.79 |
21.12 |
|
October 30, 2007 |
$383,288 |
$400,000 |
17.62 |
26.62 |
34.12 |
47.79 |
21.12 |
|
November 30, 2007 |
$391,507 |
$400,000 |
17.62 |
26.62 |
34.12 |
47.79 |
21.12 |
|
December 31, 2007 |
$400,000 |
$400,000 |
17.62 |
26.62 |
34.12 |
47.79 |
21.12 |
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The information on these schedules should
not be considered professional advice. Please contact one of
our professional staff for specific advice. |
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