TAX THE RICH?? Not So Fast | Are Canadians Paying Too Much in Tax? | Understanding the Marginal Tax Rate

On today's episode it's all about the tax! Darren and Christina break down federal and provincial income taxes and go through what Canadians pay at different income levels. They also chat about the importance of paying attention to your marginal tax rate. Do the rich pay enough in tax? You might be surprised by the answer. Tune in now! Show notes: 00:00 - Introduction 1:55 - Breaking down the federal income tax 3:35 - Breaking down provincial income tax 5:00 - What do federal taxes on yearly income of $106,000 look like? 7:30 - Example of using tax calculator for provincial tax on yearly income of $50,000 10:15 - How is overtime taxed? 11:45 - Example of using tax calculator for provincial tax on yearly income of $100,000 13:00 - Example of using tax calculator for tax on yearly income of $1,000,000 15:50 - Measuring the progressiveness of taxes in Canada TAKE CONTROL OF YOUR MONEY NOW: https://www.controlandcompound.com/contact-us FIND US ON: INSTAGRAM: https://www.instagram.com/controlandcompound/ TIKTOK: https://www.tiktok.com/@controlandcompound?lang=en FACEBOOK: https://www.facebook.com/controlandcompound JOIN OUR FACEBOOK COMMUNITY: https://www.facebook.com/groups/controlandcompound TAX TIPS: https://www.taxtips.ca/index.htm