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Tax Rates – 2002
For the 2002 tax year:
- all tax bracket rates were decreased effective January 1, 2002
- 2002 tax brackets are indexed
- indexing of credits and tax brackets is based on the Consumer Price Index for British Columbia (BC CPI) for the 12-month period ended on September 30, 2001
- various non-refundable tax credits are indexed
(see the 2002 Non-Refundable Tax Credit Block)
- the BC CPI used to calculate 2002 amounts was 2.1%
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Personal Income Tax Brackets and Rates - 2002 Tax Year
Taxable Income |
Tax Rate |
$0 to $31,124 |
6.05% |
$31,124.01 to $62,249 |
9.15% |
$62,249.01 to $71,470 |
11.7% |
$71,470.01 to $86,785 |
13.7% |
Over $86,785 |
14.7% |
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Tax rates are applied on a cumulative basis. If your taxable income is more than $31,124 the first $31,124 of taxable income is taxed at 6.05%, the next $31,125
of taxable income is taxed at 9.15%, the next $9,221 is taxed at 11.7%, the next $15,315 of taxable income is taxed at 13.7% and any taxable income over $86,785 is taxed at 14.7%. |
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