Sentences with phrase «refunds at your marginal tax rate»

RRSPs generate tax refunds at your marginal tax rate, so people with an income over $ 83,088 will get a 43 % tax refund.

Not exact matches

For example, a $ 2,500 RRSP contribution made at a marginal tax rate of 23 % earns you a $ 568 tax refund.

But by deferring this deduction to next year, when you know you're income is at a higher marginal tax rate of 37 %, you could earn a $ 913 refund.

These arrangements concern us because they are intended to shield dividend income at a low or zero rate of tax, rather than «top - up» tax being paid at the individual shareholder's marginal rate, and the fund being entitled to a refund of franking credits.

An RRSP Example: Income: $ 60,000 in 2015 RRSP Contribution: $ 10,800 (18 %) Refund: $ 3,364 Bottom Line: At a 30 % marginal tax rate, you reduce taxes from $ 11,686 to $ 8,322, for a savings of $ 3,364.