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Average US exchange rate for the year 2009: 1.141977 |
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Federal 2010 tax rates on taxable income: |
15% on the first $40,970 of taxable income, +
22% on the next $40,971 of taxable income (on the portion of taxable income between $40,971 and $81,941), +
26% on the next $45,079 of taxable income (on the portion of taxable income between $81,942 and $127,021), +
29% of taxable income over $127,021
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Alberta's 2010 tax rates on taxable income: |
10% on all income
Federal personal tax exemption amount: $10,382
Alberta personal tax exemption amount: $16,825
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Capital gains: |
50% of the actual capital gain is included in income
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Registered Retirement Savings Plans (RRSPs): |
Contribution limit is 18% of the previous year's earned income
(less any previous year's pension adjustments plus any pension adjustment reversals).
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Earned income includes: |
- employment earnings, less union dues and/or employment expenses
- research grants
- self-employment net income
- active partnership income
- net rental income and/or current year rental losses
- royalties
- CPP disability pensions
- Alimony or separation payments
- Employee profit sharing plan distributions
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Annual RRSP maximum contributions: |
2007 - $19,000;
2008 - $20,000;
2009 - $21,000;
2010 - $22,000.
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