In Canada, a significant portion of your income goes to income tax, and Vancouver is no different. In BC your income is subject to both Federal Income tax, and Provincial Income tax.
The Canadian system works on a bracket system and credit system. This means that depending on your income you pay a certain percentage of tax. See the combined tax rate chart below for all the tax brackets.
Once your Vancouver taxes are calculated you then make deductions, called credits, reducing the amount of taxes you need to pay.
But those taxes are not the only ones. In your daily bases, your purchases will be subject to a 12% Harmonized Sales Tax (HST).
