Does anyone know Canada's tax percentage?

Question

I need to know sales tax and payroll tax (how much they take out of your check). I know it may be different in the different provinces, but I just need an estimate.

Answer 1

Sales Tax

In Canada, sales tax is charged by the federal government and the provincial government and is described using the following system.

GST - Goods and Services Tax [Federal Tax]

PST - Provincial Sales Tax [Provincial Tax]

HST - Harmonized Sales Tax [Combined Federal and Provincial Tax]

GST is charged in all provinces either separately or as a component of HST.

PST is charged in 'most' provinces either separately or as a component of HST. The rate of PST is determined by the provincial government.

"The Excise Tax Act (the ETA) imposes the goods and services tax/harmonized sales tax (GST/HST) on most goods and services consumed in Canada, at the rate of 7%, and in the participating provinces of Nova Scotia, New Brunswick, and Newfoundland and Labrador, at the rate of 15%. These rates of tax are proposed to be reduced to 6% and 14%, effective July 1, 2006." http://www.cra-arc.gc.ca/agency/budget/2...

Current rates of PST/HST

Alberta - no PST

British Columbia - 7%

Manitoba - 7%

New Brunswick -15% HST

Newfoundland and Labrador - 15% HST

Northwest Territories - no PST

Nova Scotia - 15% HST

Nunavut - no PST

Ontario - 8%

Prince Edward Island - 10%

Québec - 7.5%

Saskatchewan - 7%

Yukon - no PST

http://www.taxtips.ca/provincial_sales_t...

Income Tax

Federal tax rates for 2006 are:

15% on the first $36,378 of taxable income;

22% on the next $36,378 of taxable income;

26% on the next $45,529 of taxable income; and

29% of taxable income over $118,285.

Provincial tax rates vary substantially by province.

Rates are described in detail on the following page:

http://www.cra-arc.gc.ca/tax/individuals...