1. What is your combined (federal and provincial)marginal tax rate? A)32.5% B)25% C)30.5% D)24% E)38% 2. How much will you owe in personal income tax, rounded to the nearest whole number? A)$37,016 B)$56.240 C)$35,147 D)$41,155 E)$37.852 What is your average tax rate? A)25% B)32.5% C)24% D)30.5% E)26%
1. What is your combined (federal and provincial)marginal tax rate? A)32.5% B)25% C)30.5% D)24% E)38% 2. How much will you owe in personal income tax, rounded to the nearest whole number? A)$37,016 B)$56.240 C)$35,147 D)$41,155 E)$37.852 What is your average tax rate? A)25% B)32.5% C)24% D)30.5% E)26%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
You've just graduated and managed to find great job here in Alberta with a starting salary of $148.000.(lucky you !) you are eligible for deductions of $5,000 and you have unused tuition tax credits of $2.000 you plan to use this year in addition to your basic personal amount of $4.008. use the 2021 tax schedules from your notes in answer the following questions.
1. What is your combined (federal and provincial)marginal tax rate?
A)32.5% B)25% C)30.5% D)24% E)38%
2. How much will you owe in personal income tax, rounded to the nearest whole number?
A)$37,016 B)$56.240 C)$35,147 D)$41,155 E)$37.852
What is your average tax rate?
A)25% B)32.5% C)24% D)30.5% E)26%
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