Through the proposed DTC / GST legislations, brand new has acknowledged the need of new revenue system however the proposed new laws apparently appear become even more complicated then nowadays one. Marginal tax rate could be the rate of tax you pay on your last (or highest) volume income. In the earlier described example, the individual is being taxed with a marginal tax rate of 25% with taxable income of $45,000. May well mean she or he is paying 25% on her last dollars of income (more...