Notice of Objection

Your marginal tax rate is the rate on your next dollar of income, not on your income as a whole. Federally for 2026 that is 14%, 20.5%, 26%, 29% or 33% depending on the bracket you have reached, and your province's rate stacks on top, so an Ontario earner in the 26% federal band adds the Ontario rate for their own band. The two sets of thresholds rarely line up, so add the two rates together.

Multiply the assessed value of the property by the tax rate for its property class. Assessment is set by a provincial assessment authority on its own cycle and increases are often phased in, so the value lags the market. The rate is set each year by the municipality out of its budget, with an education portion added by the province. Both figures appear on your notice, which is why identical homes in different municipalities carry different bills.

You claim credits on your return, and they are applied against the tax already calculated on your taxable income. Non-refundable federal and provincial credits are each worked out by multiplying the eligible amount by the lowest rate for that jurisdiction, so the same claim is worth different money at each level. Unused amounts are lost at year end unless the particular credit allows a carry-forward or a transfer to a spouse. Refundable credits are paid whether or not tax is owing.

A stipend is taxable unless a specific exemption applies, and what matters is the nature of the payment. Pay for work such as a research or teaching assistantship is employment income. A research grant is reported as income with eligible research expenses deducted against it. An award for study can qualify for the scholarship exemption if you are enrolled in a qualifying programme. The payer issues an information slip, and the box used signals the treatment.