WON $100K GAMBLING... BUT NEED SUGGESTIONS ON WHAT YOU WOULD DO ABOUT TAXES

[303]

This is a bump

[401]

The taxation system in Canada varies depending on your residency.
Let's take Ontario as an example, where the provincial tax rates for the 2023 tax year are as follows:

5.05% on the first $44,740 of taxable income
9.15% on the portion of taxable income between $44,740 and $89,482
11.16% on the portion of taxable income between $89,482 and $150,000
12.16% on the portion of taxable income over $150,000

In addition to provincial taxes, there are federal tax rates for the 2023 tax year, which are as follows:
15% on the first $50,000 of taxable income
20.5% on the portion of taxable income between $50,000 and $100,000
26% on the portion of taxable income between $100,000 and $151,978
29% on the portion of taxable income between $151,978 and $216,511
33% on the portion of taxable income over $216,511

Based on these tax rates, if you have a taxable income of $100,000 in Ontario, the combined federal and provincial tax would be approximately $18,940. Please note that this calculation does not account for any applicable tax credits or deductions that could potentially lower your overall tax liability.

It's important to be cautious of advice suggesting not to pay taxes, as the Canada Revenue Agency (CRA) has enforcement mechanisms in place. Regardless of your income level, taxes are mandatory in Canada.

To ensure accurate and personalized guidance, I highly recommend consulting a professional tax expert who can provide specific advice based on your situation.

[73]

gimme some money lol

[43]

The taxation system in Canada varies depending on your residency.
Let's take Ontario as an example, where the provincial tax rates for the 2023 tax year are as follows:

5.05% on the first $44,740 of taxable income
9.15% on the portion of taxable income between $44,740 and $89,482
11.16% on the portion of taxable income between $89,482 and $150,000
12.16% on the portion of taxable income over $150,000

In addition to provincial taxes, there are federal tax rates for the 2023 tax year, which are as follows:
15% on the first $50,000 of taxable income
20.5% on the portion of taxable income between $50,000 and $100,000
26% on the portion of taxable income between $100,000 and $151,978
29% on the portion of taxable income between $151,978 and $216,511
33% on the portion of taxable income over $216,511

Based on these tax rates, if you have a taxable income of $100,000 in Ontario, the combined federal and provincial tax would be approximately $18,940. Please note that this calculation does not account for any applicable tax credits or deductions that could potentially lower your overall tax liability.

It's important to be cautious of advice suggesting not to pay taxes, as the Canada Revenue Agency (CRA) has enforcement mechanisms in place. Regardless of your income level, taxes are mandatory in Canada.

To ensure accurate and personalized guidance, I highly recommend consulting a professional tax expert who can provide specific advice based on your situation.

I’m completely shook that canada has taxes so low

[2.201]

The taxation system in Canada varies depending on your residency.
Let's take Ontario as an example, where the provincial tax rates for the 2023 tax year are as follows:

5.05% on the first $44,740 of taxable income
9.15% on the portion of taxable income between $44,740 and $89,482
11.16% on the portion of taxable income between $89,482 and $150,000
12.16% on the portion of taxable income over $150,000

In addition to provincial taxes, there are federal tax rates for the 2023 tax year, which are as follows:
15% on the first $50,000 of taxable income
20.5% on the portion of taxable income between $50,000 and $100,000
26% on the portion of taxable income between $100,000 and $151,978
29% on the portion of taxable income between $151,978 and $216,511
33% on the portion of taxable income over $216,511

Based on these tax rates, if you have a taxable income of $100,000 in Ontario, the combined federal and provincial tax would be approximately $18,940. Please note that this calculation does not account for any applicable tax credits or deductions that could potentially lower your overall tax liability.

It's important to be cautious of advice suggesting not to pay taxes, as the Canada Revenue Agency (CRA) has enforcement mechanisms in place. Regardless of your income level, taxes are mandatory in Canada.

To ensure accurate and personalized guidance, I highly recommend consulting a professional tax expert who can provide specific advice based on your situation.

did nigga post something chatgpt generated??

[371]

The taxation system in Canada varies depending on your residency.
Let's take Ontario as an example, where the provincial tax rates for the 2023 tax year are as follows:

5.05% on the first $44,740 of taxable income
9.15% on the portion of taxable income between $44,740 and $89,482
11.16% on the portion of taxable income between $89,482 and $150,000
12.16% on the portion of taxable income over $150,000

In addition to provincial taxes, there are federal tax rates for the 2023 tax year, which are as follows:
15% on the first $50,000 of taxable income
20.5% on the portion of taxable income between $50,000 and $100,000
26% on the portion of taxable income between $100,000 and $151,978
29% on the portion of taxable income between $151,978 and $216,511
33% on the portion of taxable income over $216,511

Based on these tax rates, if you have a taxable income of $100,000 in Ontario, the combined federal and provincial tax would be approximately $18,940. Please note that this calculation does not account for any applicable tax credits or deductions that could potentially lower your overall tax liability.

It's important to be cautious of advice suggesting not to pay taxes, as the Canada Revenue Agency (CRA) has enforcement mechanisms in place. Regardless of your income level, taxes are mandatory in Canada.

To ensure accurate and personalized guidance, I highly recommend consulting a professional tax expert who can provide specific advice based on your situation.

did nigga post something chatgpt generated??

yeah lol

[24]

You don't have to pay tax on that.

[401]

The taxation system in Canada varies depending on your residency.
Let's take Ontario as an example, where the provincial tax rates for the 2023 tax year are as follows:

5.05% on the first $44,740 of taxable income
9.15% on the portion of taxable income between $44,740 and $89,482
11.16% on the portion of taxable income between $89,482 and $150,000
12.16% on the portion of taxable income over $150,000

In addition to provincial taxes, there are federal tax rates for the 2023 tax year, which are as follows:
15% on the first $50,000 of taxable income
20.5% on the portion of taxable income between $50,000 and $100,000
26% on the portion of taxable income between $100,000 and $151,978
29% on the portion of taxable income between $151,978 and $216,511
33% on the portion of taxable income over $216,511

Based on these tax rates, if you have a taxable income of $100,000 in Ontario, the combined federal and provincial tax would be approximately $18,940. Please note that this calculation does not account for any applicable tax credits or deductions that could potentially lower your overall tax liability.

It's important to be cautious of advice suggesting not to pay taxes, as the Canada Revenue Agency (CRA) has enforcement mechanisms in place. Regardless of your income level, taxes are mandatory in Canada.

To ensure accurate and personalized guidance, I highly recommend consulting a professional tax expert who can provide specific advice based on your situation.

did nigga post something chatgpt generated??

Wrote it all, then told chatgpt to make it better. nigga