tax rate in BC

lsac Active member

Member since 09 July 2010

lsacActive member27 July 2010 03:09:20

Hi,
I found that there are a federal income tax and a provincial income tax. The rates are as follow:

Federeal Income Tax Rate:
On the first $40,726 of taxable income, + 15%
On the next $40,726 of taxable income (on the portion of taxable income between $40,726 and $81,452), +22%
On the next $44,812 of taxable income (on the portion of taxable income between $81,452 and $126,264), +26%
Taxable income over $126,264. 29%
Source: Canada Revenue Agency. 2009.

Provincial Income Tax:
Basic Personal Amount 0%
On the first $35,716 of taxable income, + 5.06%
On the next $35,717, + 7.7%
On the next $10,581, + 10.05%
On the next $17,574, +12.29%
On the amount over $99,588: 14.7%
Source: British Columbia Government. 2009

I believe they are deducted directly from the monthly salary.
Is there any other deductions to be made on the gross salary?

My husband had interviews with a company based in Surrey (Vancouver) and we want to calculate the net salary in order to know if it's enough for us to live there.

thanks for your help.
Liz