• a taxable income of more than $31,677 but less than $63,354

  • a taxable income of more than $63,354 but less than $103,000

  • and, finally, a taxable income of more than $103,000

If your taxable income is less than $31,677, there isn't very much to do. First you enter your taxable income on line 1 of Schedule 1. You have already worked this out and written it on page 3 of the T1 General, line 260. The next thing to do is to work out what 16% of your taxable income is and enter this on line 8. This is your federal income tax before you take away any of your non-refundable credits.

If you have already worked out what your taxable income is, enter it on line 1. Then calculate 16% of this amount.

Just use your calculator and multiply the amount by .16. (Don't forget the decimal point.)

Just in case you've never used a calculator to work out percents, let's practice using a calculator to work out some percents of amounts of money.



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