How Much Tax is enough?

Federal tax rates for 2006 are:

• 15% on the first $36,378 of taxable income;
• 22% on the next $36,378 of taxable income;
• 26% on the next $45,529 of taxable income; and
• 29% of taxable income over $118,285

Ontario Rates

• 6.05% on the first $34,758 of taxable income,
• +9.15% on the next $34,759,
• +11.16% on the amount over $69,517

Other Taxes:

• Regressive Taxes like PST and GST,
• CPP, EI,
• Municipal Property Tax,
• Other Municipal bills (drainage...)