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Old 2017-06-03, 20:47   #64
CRGreathouse
 
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Aug 2006

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Quote:
Originally Posted by science_man_88 View Post
it doesn't apply to me I'm not in Ontario I'm in Nova Scotia.
Quote:
Originally Posted by science_man_88 View Post
too costly. here's the math for my province as I understand it ( at least in my case):

1) pretax income
2) pretax income -taxes =post-tax income
3) post-tax income -150 per month = income_before_check_involvement
4) if(income_before_check_involvement*0.7 >= check_amount,
check_amount = 0,
check_amount - =0.7*income_before_check_involvement
)
5)total_net_income=0.3*income_before_check_involvement+check_amount)
It looks from a quick Google search that the income tax in Nova Scotia is 8.79% for the first $29,590. So if your income x is less than $29,590, your taxes are 0.0879x, your post-tax income is 0.9121x, and your check amount would be decreased by about 0.0532x - $105 (capped at $0 and the check amount). At the high end that would be $1469.36.
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