Lecture 5 - Announcements We have detected a series of...

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Announcements We have detected a series of small errors in Tax Problem Set #3 page 56 in the Lab Manual A file containing the corrections has been posted on the first page of the course website. Please make the minor changes in your Lab Manual The solutions on page 219-221 are correct
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When: Tuesday, October 5, 2010 Time: 8 pm Where: BA101 ote: Feel free to bring anyone who may be intereste joining this year, it is an open meeting.
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Taxation of Investment Returns Marginal Tax Rate: Definition Strict Definition The Tax Rate paid by an investor on his or her last dollar of taxable income earned More Useful Definition The rate of tax applied to every dollar of taxable income earned within a given tax bracket
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Determining an Ontario Resident’s Marginal Tax Rate for 2010 The combined federal/provincial marginal tax rate after surtax for an Ontario resident in 2010 is the sum of his or her: Federal Tax Rate + Ontario Tax Rate + Ontario Surtax Rate (using the information from Tax Table 4 on p. 45 of the Lab Manual)
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Tax Brackets and Applicable Tax Rates for 2010 (Ontario): Table 4 p.45 Taxable Income Tax Rate Tax Rate Surtax $ 0 - $37,106 15.00% 5.05% 0% $37,106 - $ 40,970 15.00% 9.15% 0% $40,970 - $ 60,407 22.00% 9.15% 0% $60,407 - $ 72,658 22.00% 9.15% 20% $72,658- $ 74,214 22.00% 9.15% 56% $74,214 - $ 81,941 22.00% 11.16% 56% $81,941 - $127,021 26.00% 11.16% 56% $127,021 and above 29.00% 11.16% 56%
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This note was uploaded on 12/18/2010 for the course ECONOMICS 120 taught by Professor Mesta during the Spring '10 term at Wilfred Laurier University .

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Lecture 5 - Announcements We have detected a series of...

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