Canadian individual income tax is an example of a(n) ________ tax system. Choose the correct answer....

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Question

Canadian individual income tax is an example of a(n) ________ tax system. Choose the correct answer....

Canadian individual income tax is an example of a(n) ________ tax system. Choose the correct answer.
A. flat
B. progressive
C. aggressive
D. regressive

business accounting

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Answer 1

Answer #1

Answer is B. Progressive.

Explanation:

Canadian Income tax rates are of a progressive nature means with the increase in level of incomes of individuals the income tax rate at which tax has to be paid increases.

Canadian Brackets are as under:

Income limit		Income tax rate

Upto 46605		15%
46605 to 93208		20.50%
93208 to 144489		26%
144489 to 205842		29%
Over 205842		33%

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Answer 2

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