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Unformatted text preview: $ 8,000 Personal Taxes 12,075 Total Taxes $20,075 Total Taxes On Income Earned Directly Income For The Year $50,000 Combined Federal/Provincial Tax Rate (29% + 14%) 43% Personal Tax Payable $21,500 As the corporate tax rate is below the 20 percent rate that will provide perfect integration, integration does not work. The taxes on income flowed through a corporation are $1,425 ($21,500 - $20,075) less than would be assessed if the income were received directly....
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- Fall '10
- Dividend tax, tax credit, total taxes