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Version du 7 janvier 2025 à 12:41

Through the proposed DTC / GST legislations, federal government has acknowledged the necessity of new revenue system but the proposed new laws apparently appear to be even more complicated then the present one.

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Remember, an individual exemption of $3650 isn't deducted on tax but on your taxable income. Say for example your filing status is 'married filing jointly' with original taxable income of $100,000. This making you under the marginal tax rate of 25%. The actual money you can lay aside on personal exemption is $912.50 (calculation is simple: $3650 multiplied by 25%). For everyone spouse, that will be multiplied by two in which means you save $1825.

To one more thing go as well as adjust spending beyond a 10-year mark would be so devastating to federal government and the economy which it is a non-starter. Because of this, I am going to us a 10-year style of adjusted buying.

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