Provincial non-refundable tax credits

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Priscilla Ching has taxable income of $100,000 in 2021 in Windsor, Ontario. She has $1,900 of federal and $800 of provincial non-refundable tax credits. 

Calculate the following:

  1. The amount of federal income tax for 2021. 
  2. The amount of Ontario tax for 2021. 
  3. The amount of Ontario surtax for 2021. 
  4. Her average tax rate. 
  5. Her marginal tax rate on ordinary or interest income. 
  6. Her marginal tax rate on eligible dividends. 
  7. Her marginal tax rate on realized capital gains. 
  8. Total taxes payable on $100 of interest income, $200 of dividends from the TD Bank, and $300 of dividends from Alibaba Corporation, which is a foreign company. 

For questions (4 - 8) round to two decimal places of percentage (e.g., 11.11%)

Reference no: EM133120777

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