prospective said:
So you mean if I earn less than $35000 a year and my wife doesn't work, my earning won't be taxable except 2.5% EI and $70 CPP a month???????
Below is an example for federal & provincial tax rates for different income brackets.However,if your spouse is not working you will receive some tax refund when your file your taxes at the end of the year.
Federal tax rates for 2013
15% on the first $43,561 of taxable income, +
22% on the next $43,562 of taxable income (on the portion of taxable income over $43,561 up to $87,123), +
26% on the next $47,931 of taxable income (on the portion of taxable income over $87,123 up to $135,054), +
29% of taxable income over $135,054
Provincial/territorial tax rates
Alberta 10% of taxable income
Below are some links where you can calculate your taxes:
http://www.finance.alberta.ca/calc-script/pit-assumptions.htm
http://lsminsurance.ca/calculators/canada/income-tax