Solved

Calculate the Tax Difference Between a British Columbia Resident and a Quebec

Question 8

Multiple Choice

Calculate the tax difference between a British Columbia resident and a Quebec resident both having $20,000 in interest income and $25,000 in capital gains.  Combined marginal tax rates for individuals in top provincial tax brackets \textbf{ Combined marginal tax rates for individuals in top provincial tax brackets }
 Calculate the tax difference between a British Columbia resident and a Quebec resident both having $20,000 in interest income and $25,000 in capital gains.  \textbf{   Combined marginal tax rates for individuals in top provincial tax brackets      }     A)  British Columbia resident would pay $1,356.50 less than the Quebec resident. B)  British Columbia resident would pay $1,356.50 more than the Quebec resident. C)  British Columbia resident would pay $2,456.50 less than the Quebec resident. D)  British Columbia resident would pay $2,456.50 more than the Quebec resident. E)  There are no tax differences between the two tax payers.


A) British Columbia resident would pay $1,356.50 less than the Quebec resident.
B) British Columbia resident would pay $1,356.50 more than the Quebec resident.
C) British Columbia resident would pay $2,456.50 less than the Quebec resident.
D) British Columbia resident would pay $2,456.50 more than the Quebec resident.
E) There are no tax differences between the two tax payers.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions