16% of taxable income up to $32,183 16% of taxable income up ... For the 2005 tax year, provincial tax bracket thresholds have ... However, any resulting tax benefit in Ontario has been largely nullified by ...
By shifting income from a family member in the highest tax bracket to a family member in a lower tax bracket, the overall tax liability for the family will be reduced.
If you're in the lowest tax bracket (roughly $35,000 or under), the $1,000 in income will be tax-free, although pensioners with a higher marginal rate will pay some tax.
... before calling the election, the Liberals cut personal income taxes a one per cent reduction to the lowest tax bracket, from ... battles give NDP big gains in B.C. Tories, NDP pick up seats in Ontario ...