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@colin44 So essentially if you’re in the top tax bracket and you get taxed normally (48% in Alberta), you should have a very large tax return?

@hundreddays That’s really helpful thanks so much!

How does progressive income tax actually work (in as simple terms as possible) The way I understood it is that you only get taxed the prescribed amount on the income that is in that tax bracket The way a lot of people understand it is that as soon as you hit the next tax bracket, you’re taxed...