Question

Families receive GST credit of $830/yr up to what level of income, where a 5% taxback rate applies?

A. Up to $30,000.
B. Up to $40,000.
C. Up to $50,000.
D. Up to $60,000.

Answer 1

The question about the income level up to which families receive a GST credit of $830 before a 5% taxback rate applies cannot be directly answered with the provided EITC information. Specific details about the GST credit are needed to provide an accurate answer.

Step-by-step explanation:

The question is asking for the income level up to which families receive a Goods and Services Tax (GST) credit of $830 per year before a taxback rate of 5% applies. From the information given, which is based on the earned income tax credit (EITC), we can infer that for a single-parent family with two children in 2013, there is no reduction in the credit up to an income level of $17,530. The credit then decreases slowly by a taxback rate of 21.06 cents per dollar earned above that threshold, until it phases out completely at $46,227. Therefore, the GST credit mentioned does not match the provided EITC information exactly since the income levels and taxback rate are different. To correctly answer the student's question, more specific information pertinent to the GST credit is required.