Calculate the Tax Difference Between a British Columbia Resident and an Ontario

question 370

Multiple Choice

Calculate the tax difference between a British Columbia resident and an Ontario resident both having $20,000 in interest income and $25,000 in capital gains.

• A) British Columbia resident would pay $1,213.50 more than the Ontario resident.
• B) British Columbia resident would pay $1,213.50 less than the Ontario resident.
• C) British Columbia resident would pay $1,456.50 more than the Ontario resident.
• D) British Columbia resident would pay $1,456.50 less than the Ontario resident.
• E) There are no tax differences between the two tax payers.

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