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whitev70r · 11-28-2022, 10:53 AM

From CRA website, here is how tax rate is applied:
Federal tax rates for 2022 (don't forget, there there is provincial tax, municipal tax)
15% on the first $50,197 of taxable income, plus
20.5% on the next $50,195 of taxable income (on the portion of taxable income over 50,197 up to $100,392), plus
26% on the next $55,233 of taxable income (on the portion of taxable income over $100,392 up to $155,625), plus
29% on the next $66,083 of taxable income (on the portion of taxable income over 155,625 up to $221,708), plus
33% of taxable income over $221,708

On the topic of how to make it more attractive/reward/incentive for Dr's (and nurses), one way is to give some sort of healthcare workers allowance. Say for every year you work, you get an allowance/amount that you can deduct from gross income that you don't have to pay tax on. Eg. Every year you work in healthcare, you get $2000 tax deductible allowance (or whatever number they come up with). That will eventually add up and it rewards long term service in the healthcare.

11-28-2022, 10:53 AM	#4205
whitev70r Willing to sell body for a few minutes on RS Join Date: Nov 2002 Location: 604 Posts: 10,417 Thanked 6,257 Times in 3,012 Posts Failed 320 Times in 161 Posts	From CRA website, here is how tax rate is applied: Federal tax rates for 2022 (don't forget, there there is provincial tax, municipal tax) 15% on the first $50,197 of taxable income, plus 20.5% on the next $50,195 of taxable income (on the portion of taxable income over 50,197 up to $100,392), plus 26% on the next $55,233 of taxable income (on the portion of taxable income over $100,392 up to $155,625), plus 29% on the next $66,083 of taxable income (on the portion of taxable income over 155,625 up to $221,708), plus 33% of taxable income over $221,708 On the topic of how to make it more attractive/reward/incentive for Dr's (and nurses), one way is to give some sort of healthcare workers allowance. Say for every year you work, you get an allowance/amount that you can deduct from gross income that you don't have to pay tax on. Eg. Every year you work in healthcare, you get $2000 tax deductible allowance (or whatever number they come up with). That will eventually add up and it rewards long term service in the healthcare. Last edited by whitev70r; 11-28-2022 at 10:59 AM.