50%!!
WOW! that sounds like an awful lot but I can totally understand. Atleast you get back in way of social services etc. We dont really have those that is effective towards our population. US needs to lead the way but I doubt the govt, big pharma and insurance companies will ever look beyond their profits. Same goes for India too!
Ya if you are making over 150K in some cases your better off only making 120K. However there are many loopholes in the Canadian tax system. As long as the dividends are "eligible" - this a tax term, A tax payer can receive up to 50K in dividends, without paying any taxes personally. That is if it is their only source of income of course.
Ah Loopholes! Ofcourse. Every tax system out there is built with one so a few can make the most of it!