The Canada Revenue Agency collects and administers federal individual income taxes as well as most provinces' individual income taxes, including Manitoba. Residents of Canada are required to pay Canadian income taxes on their world income. Except in Quebec, provincial and territorial taxes are calculated on the federal return and collected by the federal government.
Rates vary among the jurisdictions. Two provinces also impose surtaxes that may increase the provincial income taxes payable. Provincial and territorial taxes are not deductible when computing federal, provincial, or territorial taxable income. All provinces and territories compute income tax using 'tax-on-income' systems i. All except Quebec use the federal definition of taxable income. Surtax rates apply to provincial tax above the surtax thresholds shown.
The rates reflect all federal, provincial, and territorial budgets which are usually introduced in the spring of each year. In addition to the normal tax computation, individuals are required to compute an adjusted taxable income and include certain 'tax preference' items that are otherwise deductible or exempt in the calculation of regular taxable income.
The taxpayer then pays the greater of regular tax or the AMT. Internal Revenue Service. Canadian government. Tax Laws. Lifestyle Advice. Social Security. Small Business Taxes.
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This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice.
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