bracket. You should also consider the possible tax payment to your estate when you pass on. If you're expecting a large tax bill, it may make sense to withdraw more funds now. A good financial plan will reflect taxes paid now and taxes to be paid later. Another key point for retirees is understanding the difference between average tax rate and marginal tax rate. Your average tax rate is the percentage of your income that went to the government; it’s the total tax you paid divided by your total income. Your marginal tax rate is the amount of tax you would pay on your next dollar of income.
Tax Rates 2018
Ontario
200