计算Net Income(净收入Line 236)=Total Income减Tax Deduction(翻译叫做免税额，你需要claim any deductions you are entitled to，包括personal deductions and tax-deductible expenses。从line 206到line 236)
计算Taxable income(需纳税的收入Line 260)=Net Income减Tax credits Amount(翻译叫做抵税金). Line 244-260,其中Line 260是taxable income.
计算Total tax payable基于你的taxable income(应付税， Line 435)
计算你的tax balance owing or tax refund = Total tax payable -taxes paid-refundable credits
Your marginal tax rate: the rate in your highest tax bracket (26% in the above example，because 98000 belong to 26% category) and is significant because every additional dollar you report is taxed at that rate.
Your effective tax rate: the total tax you pay divided by your total taxable income ($17,621.11/$98,000=17.98%).
Net Income用于计算GST/HST credit, Child Tax benefits, credits for charitable donations, medical expense, and social benefits很重要.
Taxable income用于计算要交多少税
A tax deduction is more valuable if your income is higher since it reduces tax at your marginal tax rate. But if you’re in the lowest tax bracket, a deduction and a tax credit are essentially the same since the 15% rate used to calculate the credit is the same as the lowest federal tax bracket.
免税额Tax Deduction与抵税金Tax credits的区别与联系
免税额Tax Deduction: A tax deduction reduces the amount of income that is subject to income tax
抵税金Tax credits amount：a tax credit reduces the amount of tax owing
A $10,000 tax creditamountrequires an extra step before we can figure out the actual tax credit. Any amount eligible for a tax credit generally creates a federal tax savings based on the lowest tax bracket 15%, 和税级没有直接关系
Refundable Tax credits
A non-refundable tax credit can only reduce any taxes owing. 如果NOA显示学费federal amount为$10,000， 则相当于有$10000*15%=$1500的tax credit，能抵这个金额的联邦税(除了联邦tax credit，各个省还有tax credit)。 But if you only owed $1,000 in taxes, it would reduce your tax bill to $0。
Non-refundable Tax credits
有些non-refundable不可以carry forward, 例如basic personal amount个人基本免税额，2012年为$10,822，如果没有用上，不可以留到来年用；有些可以留到以后用，例如学费。
