To answer your question, the taxes you pay on the money you earn (salary, income) is called income tax.
The Canadian tax structure is usually progressive. This means that the more money you earn, the higher the tax that you will pay.
How much tax do I pay if I earn 8000 a month
if i earn £5000 a year what percentage of tax should i pay
Federal income tax is collected on a "pay-as-you-go," or "pay-as-you-earn" basis.Withholding ("pay-as-you-earn" taxation)Money that employers withhold from employees' GROSS PAY. This money is deposited for the government. (It will be credited against the employees' tax liability when they file their returns.) Employers withhold money for federal income taxes, Social Security taxes, and state and local income taxes in some states and localities.Click on the below Related Link
it is tax you pay on wages you earn
in the UK £20,000 See the related Q below for the US.
I'm not sure what you mean by the overseas thing, or if it makes a difference. Most all retirement savings in thr US are nly tax deferred anyway...you don'tay the tax on the money you save when you earn it, but you do pay it when you withdraw it at retirement.
If you have money in the bank you get a certain percentage interest. If you borrow money you have to pay a certain percentage extra back. If you buy a product a percentage of the price is tax. When you earn money you pay a percentage in tax. The government knows what percentage of the population are unemployed.
1,500.00
every one has to pay tax its the law there is always a amount that will get paid as tax out off you wage
Is not a true statement. Many people have income and pay noi tax, many types of income are not taxable, etc.
regressive tax encourages earning. this is such that as for the case of progressive tax whereby the more you earn, the more taxes you pay in the case of regressive tax, the more you earn the more you get to keep.