In 2024, the first $55,867 would be taxed at 15 per cent ($8,380.05) while the remaining portion would be taxed at 20.5 per cent ($847.26). In total, that adds up to $9,227.31. Fuck me seeing it typed out like that is depressing as fuck then add in provincial tax, CPP and EI contributions, GST/HST, carbon tax,fuel tax, property tax,sin tax, and I am sure I have missed a few in there Edit :So I worked out payroll withholding for AB on 60k would be just over 20k More on reddit.com

1. Are these brackets for annual income or per pay check?

You know a lot of people with $50k biweekly paycheques? A little brain effort required to know this answer, but not much.

2. Payroll assumes this is your regular pay. Any overpayment in tax gets refunded.

3) You have seen the tables. The top tax bracket is the tax rates for dollars over that amount.

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Firstly, tax brackets are automatically adjusted to inflation every year, so inflation really isn’t an argument for tax bracket adjustment. Secondly, you’re not being taxed 50% on your $150k income. In fact, your combined federal/provincial tax rate at $150k in Ontario is exactly 30%, so $30k less in tax than you imply, which is a hell of a lot of money to miscalculate and is what some people live off of (respect to people who can manage to live sustainable off minimum wage particularly in the past 3 years). The highest tax bracket is 43.6%, and that’s only on income over $220k. Each portion of income is taxed at the respective tax bracket. So the first (rounded numbers) 12k is untaxed, the next 31k is taxed at 20%, the next 4K is taxed at 24%, the next 30k is taxed at 30%, the next 10k at 31%, the next 4K at 34%, the next 4K at 38%, the next 52k at 43%, the next 3k at 46%. And that lands you at $150k. Otherwise there would be incentive to stay $1 below the next tax bracket if your entire income jumped up to the next bracket. So if you’re making $150k, only 3k of your income is being taxed at 46%, while 12k of your income at the other end of the tax bracket spectrum is completely untaxed. At least learn the very basic system of tax brackets before ranting about the government stealing your money. Also maybe realize that if you’re earning $150k, you’re not the average person only able to live comfortably, because a literal majority of the population earns substantially less than you, as in less than half ($68k) of what you make, assuming $150k is your individual income and not household income, in which case you’d still be 30k above average for a Canadian household ($120k). More on reddit.com

Misleading to the max. Americans may pay a little less in taxes but user fees, college tuition and a host of other services that are free or subsidize in Canada. At the end of a month, American families are basically as broke and Canadian families. In Canada, taxes range anywhere from 15%-33%. If your annual income is less than $49,020 per year and are single, you can expect to pay 15% in taxes. In the US tax rates are between 10% and 37% but if you make over $40,526 as a single person then you pay 22% in taxes. This makes the low income threshold higher in Canada than the US. Employers in the US also pay more since most good jobs come with a healthcare plan where the employer picks up 70% of the cost of health insurance while the employee pays the remaining 30% in monthly installments. But even when insured, Americans have to pay a deductible and a co-pay whenever they access healthcare services, despite being insured, the insurer does not pay the entire amount. A healthcare premium ranges form $500 a month (single person) to up to $2000 a month (family). A healthcare deductible in the US can range from $1000 a year to $5000 a year, that's the amount you must pay before your insurance kicks in. A healthcare co-pay or coinsurance is an amount you must pay for on each visit despite your insurance covering the cost of treatment. This can be as low as $20 for a visit to the doctor to 30% of hospital fees. All in all, the average American spend on healthcare: A 21 year old will pay $4,320 a year in Utah to $10,244 a year in Alaska. The average American individual spends $3,853 a year on premiums and $4,358 in deductible (total of $8,210) before the insurance starts paying, then spends a little more in co-pay/coinsurance. A family will pay on average $18,000 a year for healthcare, including everything. More on reddit.com