10.5 - 15.87% 31.15% $70,000 17.70% 19.89% 35.39% $80,000...

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Ontario Personal Effective Tax Rates 2007 Income Level Tax Rate After Tax $20,000 11.96% 17,608 $30,000 15.07% 25,478 $40,000 17.51% 32,995 $50,000 20.24% 39,880 $60,000 22.06% 46,765 $70,000 23.60% 53,478 $80,000 25.76% 59,396 $90,000 27.72% 65,055 $100,000 29.29% 70,714 $120,000 31.64% 82,032 $140,000 33.73% 92,776 $160,000 35.32% 103,494 $180,000 36.55% 114,213 $200,000 37.53% 124,931 $220,000 38.34% 135,649 This table shows estimated effective tax rates as of January 1, 2007 for various taxable income levels. It is based on the 2007 combined federal and provincial income taxes payable, including surtaxes and flat taxes, payable on the assumption that only the basic personal tax credit is available. Ontario Personal Marginal Tax Rates 2007 Income Level Capital Gains Dividends Interest/Salary $20,000 10.64% 3.55% 21.30% $30,000 10.64% 3.55% 21.30% $40,000 15.58% 15.87% 31.15% $50,000 15.58% 15.87% 31.15% $60,000 15.58%
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Unformatted text preview: 15.87% 31.15% $70,000 17.70% 19.89% 35.39% $80,000 21.71% 27.61% 43.41% $90,000 21.71% 27.61% 43.41% $100,000 21.71% 27.61% 43.41% $120,000 21.71% 28.69% 43.75% $140,000 23.21% 31.35% 46.41% $160,000 23.21% 31.35% 46.41% $180,000 23.21% 31.35% 46.41% $200,000 23.21% 31.35% 46.41% $220,000 23.21% 31.35% 46.41% This table shows the estimated marginal tax rates on income such as interest/salary, dividend and capital gains at various income levels. The marginal tax rate is the tax rate applied to the next dollar of income earned. The marginal tax rates are as of January 1, 2007. They are based on the 2007 combined federal and provincial income taxes payable, including surtaxes and flat taxes, payable on the assumption that only the basic personal tax credit is available...
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