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Tax Rates – 2007
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For the 2007 tax year:
- 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, 2006
- various non-refundable tax credits are indexed
(see the 2007 Non-Refundable Tax Credit Block)
- the BC CPI used to calculate 2007 amounts was 1.9%
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Personal Income Tax Brackets and Rates - 2007 Tax Year
Taxable Income |
Tax Rate |
$0 to $34,397 |
5.70% |
$34,397.01 to $68,794 |
8.65% |
$68,794.01 to $78,984 |
11.10% |
$78,984.01 to $95,909 |
13.00% |
Over $95,909 |
14.70% |
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Tax rates are applied on a cumulative basis. If your taxable income is more than $34,397 the first $34,397 of taxable income is taxed at 5.7%, the next $34,397 of taxable income is taxed at 8.65%, the next $10,190 is taxed at 11.1%, the next $16,925 of taxable income is taxed at 13% and any taxable income over $95,909
is taxed at 14.7%. |
Tax Rates are also available for:
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