Hello, I was wondering if there is a way to determine in determine in the Time Machine output, what MTR % is being used each year. Unless I'm mistaken I do not see this explicitly indicated in the outputs. Looking through the exported Excel, I notice that are several tax columns, so I'm wondering if there is a way to calculate it myself. For example, I think I can determine MTR by doing a lookup table against the "Taxable Income column AC". And I should be able to calculate Average Tax Rate if I divide column "Taxes and penalties column AI" by "Taxable income column AC". Unless there is an easier way, and I'm missing something in the outputs? thanks
Hi,
There is a graph of the average tax rate, and it is calculated exactly as you say.
I do have an MTR on income already calculated. Would you like me to add that graph?
Oh, thank you - I did not scroll down far enough to see the average tax rate :)
Among other things, I was thinking the MTR information/graph might useful for evaluating RRSP trade-offs, e.g. if it makes sense to contribute now if future MTR is expected to be much higher, etc.
thanks for your help.
Well that should tell you there are already too many graphs :)
I nevertheless added the MTR graph if it can be helpful.
Thank you, I appreciate you adding it. And thanks for reminding me about the graphs - I had not focused on them much before - but I am looking at them in more detail now and there is a wealth (!) of information in them. Stuff that I was trying to reproduce on my own which I don't have to now.