2007-02-02 10:07:41 · 3 answers · asked by Gaura 2 in Business & Finance ➔ Taxes ➔ Canada
The federal basic personal amont for 2006 is 8839 and each of the provinces have there own amounts, usually slightly lower then this.
Essentially, with no other factors, deductions, income, exemptions, you can earn this much income and not pay any FEDERAL tax in Canada. Ontario for example is 8,377 for 2006
2007-02-03 03:56:29 · answer #1 · answered by Theebis 2 · 1⤊ 0⤋
For your particular provincial personal basic amount (the income at which you do not pay tax below) check out Tax Tips at http://www.taxtips.ca/
If you would like to play around with various incomes to see how much you would pay, check out an on-line calculator at http://www.ey.com/global/content.nsf/Canada/Tax_-_Calculators_-_Overview
If you are getting paid in dividends, you can make nearly $66,000 without paying any Federal tax (you'd still have provincial taxes). Basically anything you earn over $8,839 is taxable federally.
Hope this helps.
2007-02-04 18:03:04 · answer #2 · answered by Mick 3 · 0⤊ 0⤋
three frigging cents
2007-02-02 18:10:01 · answer #3 · answered by mycatsdead 2 · 0⤊ 2⤋