30
These are Canada's new tax brackets and income tax rates in 2024
(www.ctvnews.ca)
What's going on Canada?
๐ Meta
๐บ๏ธ Provinces / Territories
๐๏ธ Cities / Local Communities
๐ Sports
Hockey
Football (NFL)
unknown
Football (CFL)
unknown
Baseball
unknown
Basketball
unknown
Soccer
unknown
๐ป Universities
๐ต Finance / Shopping
๐ฃ๏ธ Politics
๐ Social and Culture
Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage:
That sucks, but to be fair that's not really the situation. The basic personal amount is deducted from your income, so you pay near-zero tax.
You should be paying negative tax (i.e. getting a universal basic income), but you're not really paying any tax now.
Edit: the basic personal amount is increasing to 15.7K, so you'll be taxed at 10% of $300 if you don't have any other deductions at all, to the total tune of $30-ish.