def OnRetirement(self, person):
self.ympe_fractions.sort(reverse=True)
working_years = len(self.ympe_fractions)
dropout_years = world.CPP_GENERAL_DROPOUT_FACTOR * working_years
cpp_earning_history_length = working_years - dropout_years
whole_year_index = math.floor(cpp_earning_history_length)
cpp_average_earnings = (sum(self.ympe_fractions[:whole_year_index]) +
self.ympe_fractions[whole_year_index] *
(cpp_earning_history_length - whole_year_index)
) / cpp_earning_history_length
# Calculate the average nominal YMPE for the previous 5 years (excluding current year)
nominal_ympe_history = [
utils.Indexed(world.YMPE, person.year - i, 1 + world.PARGE) *
person.cpi_history[-(i + 1)]
for i in range(1, world.MPEA_YEARS + 1)
]
indexed_mpea = sum(nominal_ympe_history) / world.MPEA_YEARS
if person.age == world.CPP_EXPECTED_RETIREMENT_AGE:
self.benefit_amount = cpp_average_earnings * indexed_mpea * world.CPP_RETIREMENT_BENEFIT_FRACTION
elif person.age < world.CPP_EXPECTED_RETIREMENT_AGE:
self.benefit_amount = (
cpp_average_earnings * indexed_mpea *
world.CPP_RETIREMENT_BENEFIT_FRACTION *
(1 - (world.CPP_EXPECTED_RETIREMENT_AGE - person.age) *
world.AAF_PRE65))
elif person.age > world.CPP_EXPECTED_RETIREMENT_AGE:
self.benefit_amount = (
cpp_average_earnings * indexed_mpea *
world.CPP_RETIREMENT_BENEFIT_FRACTION *
(1 +
min(world.AAF_POST65_YEARS_CAP, person.age -
world.CPP_EXPECTED_RETIREMENT_AGE) * world.AAF_POST65))
def CalcAmount(self, year_rec):
if year_rec.is_employed:
current_ympe = utils.Indexed(world.YMPE, year_rec.year,
1 + world.PARGE) * year_rec.cpi
earnings = max(
random.normalvariate(
current_ympe * world.EARNINGS_YMPE_FRACTION,
world.YMPE_STDDEV * current_ympe), 0)
return earnings
else:
return 0
def CalcPayrollDeductions(self, year_rec):
"""Calculates and stores EI premium and CPP employee controbutions"""
# CPP employee contribution
earnings = sum(receipt.amount for receipt in year_rec.incomes
if receipt.income_type == incomes.INCOME_TYPE_EARNINGS)
year_rec.pensionable_earnings = max(
0,
min(
utils.Indexed(world.YMPE, year_rec.year, 1 + world.PARGE) *
year_rec.cpi, earnings) - world.YBE)
year_rec.cpp_contribution = year_rec.pensionable_earnings * world.CPP_EMPLOYEE_RATE
# EI premium
year_rec.insurable_earnings = min(
earnings,
utils.Indexed(world.EI_MAX_INSURABLE_EARNINGS, year_rec.year,
1 + world.PARGE) * year_rec.cpi)
year_rec.ei_premium = year_rec.insurable_earnings * world.EI_PREMIUM_RATE
return year_rec
def CalcAmount(self, year_rec):
if year_rec.is_employed:
earnings_capacity = utils.Indexed(
world.YMPE, year_rec.year,
1 + world.PARGE) * year_rec.cpi * world.EARNINGS_YMPE_FRACTION
earnings = max(
random.normalvariate(earnings_capacity,
world.YMPE_STDDEV * earnings_capacity), 0)
return earnings
else:
return 0
def testIndexed(self): self.assertAlmostEqual(utils.Indexed(100, world.BASE_YEAR + 1, 1.10), 110) self.assertAlmostEqual(utils.Indexed(100, world.BASE_YEAR, 123), 100) self.assertAlmostEqual(utils.Indexed(100, world.BASE_YEAR + 1), 101)
def AnnualUpdate(self, year_rec):
if not year_rec.is_retired:
self.ympe_fractions.append(
year_rec.pensionable_earnings /
(utils.Indexed(world.YMPE, year_rec.year, 1 + world.PARGE) *
year_rec.cpi))
def AnnualReview(self, year_rec):
"""End of year calculations for a live person"""
period = self.Period(year_rec)
self.period_years[period] += 1
cpi = year_rec.cpi if self.real_values else 1
self.accumulators.UpdateConsumption(year_rec.consumption / cpi,
self.year, self.retired, period)
earnings = sum(receipt.amount for receipt in year_rec.incomes
if receipt.income_type == incomes.INCOME_TYPE_EARNINGS)
cpp = sum(receipt.amount for receipt in year_rec.incomes
if receipt.income_type == incomes.INCOME_TYPE_CPP)
ei_benefits = sum(receipt.amount for receipt in year_rec.incomes
if receipt.income_type == incomes.INCOME_TYPE_EI)
gis = sum(receipt.amount for receipt in year_rec.incomes
if receipt.income_type == incomes.INCOME_TYPE_GIS)
oas = sum(receipt.amount for receipt in year_rec.incomes
if receipt.income_type == incomes.INCOME_TYPE_OAS)
assets = sum(fund.amount for fund in self.funds.values())
gross_income = sum(receipt.amount
for receipt in year_rec.incomes) + sum(
receipt.amount
for receipt in year_rec.withdrawals)
rrsp_withdrawals = sum(
receipt.amount for receipt in year_rec.withdrawals
if receipt.fund_type in (funds.FUND_TYPE_RRSP,
funds.FUND_TYPE_BRIDGING))
tfsa_withdrawals = sum(receipt.amount
for receipt in year_rec.withdrawals
if receipt.fund_type == funds.FUND_TYPE_TFSA)
nonreg_withdrawals = sum(
receipt.amount for receipt in year_rec.withdrawals
if receipt.fund_type == funds.FUND_TYPE_NONREG)
total_withdrawals = rrsp_withdrawals + tfsa_withdrawals + nonreg_withdrawals
rrsp_deposits = sum(receipt.amount for receipt in year_rec.deposits
if receipt.fund_type in (funds.FUND_TYPE_RRSP,
funds.FUND_TYPE_BRIDGING))
tfsa_deposits = sum(receipt.amount for receipt in year_rec.deposits
if receipt.fund_type == funds.FUND_TYPE_TFSA)
nonreg_deposits = sum(receipt.amount for receipt in year_rec.deposits
if receipt.fund_type == funds.FUND_TYPE_NONREG)
savings = rrsp_deposits + tfsa_deposits + nonreg_deposits
ympe = utils.Indexed(world.YMPE, year_rec.year, 1 + world.PARGE)
if gross_income < world.LICO_SINGLE_CITY_WP * year_rec.cpi:
self.gross_income_below_lico_years += 1
if assets <= 0:
self.no_assets_years += 1
if self.age >= world.MINIMUM_RETIREMENT_AGE and not self.retired:
self.accumulators.earnings_late_working_summary.UpdateOneValue(
earnings / cpi)
self.accumulators.lifetime_withdrawals_less_savings.UpdateOneValue(
(total_withdrawals - savings) / cpi)
if self.retired:
self.accumulators.lico_gap_retired.UpdateOneValue(
max(0, world.LICO_SINGLE_CITY_WP * year_rec.cpi - gross_income)
/ cpi)
if assets <= 0:
self.has_been_ruined = True
self.accumulators.fraction_retirement_years_ruined.UpdateOneValue(
1)
else:
self.accumulators.fraction_retirement_years_ruined.UpdateOneValue(
0)
self.accumulators.fraction_retirement_years_below_ympe.UpdateOneValue(
1 if assets < ympe else 0)
self.accumulators.fraction_retirement_years_below_twice_ympe.UpdateOneValue(
1 if assets < 2 * ympe else 0)
if gross_income < world.LICO_SINGLE_CITY_WP * year_rec.cpi:
self.has_experienced_income_under_lico = True
self.accumulators.fraction_retirement_years_below_lico.UpdateOneValue(
1)
else:
self.accumulators.fraction_retirement_years_below_lico.UpdateOneValue(
0)
self.accumulators.retirement_taxes.UpdateOneValue(
year_rec.taxes_payable / cpi)
if cpp > 0:
self.accumulators.positive_cpp_benefits.UpdateOneValue(cpp /
cpi)
else: # Working period
self.accumulators.lico_gap_working.UpdateOneValue(
max(0, world.LICO_SINGLE_CITY_WP * year_rec.cpi - gross_income)
/ cpi)
self.accumulators.earnings_working.UpdateOneValue(earnings / cpi)
self.accumulators.working_annual_ei_cpp_deductions.UpdateOneValue(
(year_rec.cpp_contribution + year_rec.ei_premium) / cpi)
self.accumulators.working_taxes.UpdateOneValue(
year_rec.taxes_payable / cpi)
if earnings > 0:
self.positive_earnings_years += 1
self.accumulators.fraction_earnings_saved.UpdateOneValue(
savings / earnings)
if ei_benefits > 0:
self.ei_years += 1
self.accumulators.positive_ei_benefits.UpdateOneValue(
ei_benefits / cpi)
if self.age >= world.MAXIMUM_RETIREMENT_AGE:
if gis > 0:
self.gis_years += 1
self.has_received_gis = True
self.accumulators.fraction_retirement_years_receiving_gis.UpdateOneValue(
1)
self.accumulators.positive_gis_benefits.UpdateOneValue(gis /
cpi)
else:
self.accumulators.fraction_retirement_years_receiving_gis.UpdateOneValue(
0)
self.accumulators.benefits_gis.UpdateOneValue(gis / cpi)
if not self.basic_only:
self.net_government_revenue += (year_rec.taxes_payable +
year_rec.sales_taxes - gis -
oas) / year_rec.cpi
self.accumulators.period_earnings.UpdateOneValue(
earnings / cpi, period)
self.accumulators.period_cpp_benefits.UpdateOneValue(
cpp / cpi, period)
self.accumulators.period_oas_benefits.UpdateOneValue(
oas / cpi, period)
self.accumulators.period_taxable_gains.UpdateOneValue(
year_rec.taxable_capital_gains / cpi, period)
self.accumulators.period_gis_benefits.UpdateOneValue(
gis / cpi, period)
self.accumulators.period_social_benefits_repaid.UpdateOneValue(
year_rec.total_social_benefit_repayment / cpi, period)
self.accumulators.period_rrsp_withdrawals.UpdateOneValue(
rrsp_withdrawals / cpi, period)
self.accumulators.period_tfsa_withdrawals.UpdateOneValue(
tfsa_withdrawals / cpi, period)
self.accumulators.period_nonreg_withdrawals.UpdateOneValue(
nonreg_withdrawals / cpi, period)
self.accumulators.period_cpp_contributions.UpdateOneValue(
year_rec.cpp_contribution / cpi, period)
self.accumulators.period_ei_premiums.UpdateOneValue(
year_rec.ei_premium / cpi, period)
self.accumulators.period_taxable_income.UpdateOneValue(
year_rec.taxable_income / cpi, period)
self.accumulators.period_income_tax.UpdateOneValue(
year_rec.taxes_payable / cpi, period)
self.accumulators.period_sales_tax.UpdateOneValue(
year_rec.sales_taxes / cpi, period)
self.accumulators.period_rrsp_savings.UpdateOneValue(
rrsp_deposits / cpi, period)
self.accumulators.period_tfsa_savings.UpdateOneValue(
tfsa_deposits / cpi, period)
self.accumulators.period_nonreg_savings.UpdateOneValue(
nonreg_deposits / cpi, period)
self.accumulators.period_fund_growth.UpdateOneValue(
sum(rec.growth_amount
for rec in year_rec.growth_records) / cpi, period)
self.accumulators.persons_alive_by_age.UpdateOneValue(1, self.age)
self.accumulators.gross_earnings_by_age.UpdateOneValue(
earnings / cpi, self.age)
self.accumulators.income_tax_by_age.UpdateOneValue(
year_rec.taxes_payable / cpi, self.age)
self.accumulators.sales_tax_by_age.UpdateOneValue(
year_rec.sales_taxes / cpi, self.age)
self.accumulators.ei_premium_by_age.UpdateOneValue(
year_rec.ei_premium / cpi, self.age)
self.accumulators.cpp_contributions_by_age.UpdateOneValue(
year_rec.cpp_contribution / cpi, self.age)
self.accumulators.ei_benefits_by_age.UpdateOneValue(
ei_benefits / cpi, self.age)
self.accumulators.cpp_benefits_by_age.UpdateOneValue(
cpp / cpi, self.age)
self.accumulators.oas_benefits_by_age.UpdateOneValue(
oas / cpi, self.age)
self.accumulators.gis_benefits_by_age.UpdateOneValue(
gis / cpi, self.age)
self.accumulators.savings_by_age.UpdateOneValue(
savings / cpi, self.age)
self.accumulators.rrsp_withdrawals_by_age.UpdateOneValue(
rrsp_withdrawals / cpi, self.age)
self.accumulators.tfsa_withdrawals_by_age.UpdateOneValue(
tfsa_withdrawals / cpi, self.age)
self.accumulators.nonreg_withdrawals_by_age.UpdateOneValue(
nonreg_withdrawals / cpi, self.age)
self.accumulators.rrsp_assets_by_age.UpdateOneValue(
sum(fund.amount for fund in self.funds.values()
if fund.fund_type == funds.FUND_TYPE_RRSP) / cpi, self.age)
self.accumulators.bridging_assets_by_age.UpdateOneValue(
sum(fund.amount for fund in self.funds.values()
if fund.fund_type == funds.FUND_TYPE_BRIDGING) / cpi,
self.age)
self.accumulators.tfsa_assets_by_age.UpdateOneValue(
sum(fund.amount for fund in self.funds.values()
if fund.fund_type == funds.FUND_TYPE_TFSA) / cpi, self.age)
self.accumulators.nonreg_assets_by_age.UpdateOneValue(
sum(fund.amount for fund in self.funds.values()
if fund.fund_type == funds.FUND_TYPE_NONREG) / cpi,
self.age)
if self.retired:
self.accumulators.cd_withdrawals_by_age.UpdateOneValue(
year_rec.cd_drawdown_amount / cpi, self.age)
self.accumulators.ced_withdrawals_by_age.UpdateOneValue(
year_rec.ced_drawdown_amount / cpi, self.age)
self.accumulators.cd_requested_by_age.UpdateOneValue(
year_rec.cd_drawdown_request / cpi, self.age)
self.accumulators.ced_requested_by_age.UpdateOneValue(
year_rec.ced_drawdown_request / cpi, self.age)
self.accumulators.rrsp_ced_assets_by_age.UpdateOneValue(
self.funds["ced_rrsp"].amount / cpi, self.age)
self.accumulators.tfsa_ced_assets_by_age.UpdateOneValue(
self.funds["ced_tfsa"].amount / cpi, self.age)
self.accumulators.nonreg_ced_assets_by_age.UpdateOneValue(
self.funds["ced_nonreg"].amount / cpi, self.age)
self.accumulators.rrsp_cd_assets_by_age.UpdateOneValue(
self.funds["cd_rrsp"].amount / cpi, self.age)
self.accumulators.tfsa_cd_assets_by_age.UpdateOneValue(
self.funds["cd_tfsa"].amount / cpi, self.age)
self.accumulators.nonreg_cd_assets_by_age.UpdateOneValue(
self.funds["cd_nonreg"].amount / cpi, self.age)
self.accumulators.ced_ruined_by_age.UpdateOneValue(
1 if sum(fund.amount for name, fund in self.funds.items()
if name.startswith("ced")) == 0 else 0, self.age)
self.accumulators.cd_ruined_by_age.UpdateOneValue(
1 if sum(fund.amount for name, fund in self.funds.items()
if name.startswith("cd")) == 0 else 0, self.age)
self.age += 1
self.year += 1
def MeddleWithCash(self, year_rec):
"""This performs all operations on subject's cash pile"""
cash = 0
# Get money from incomes. GIS is excluded and done after withdrawals
for income in self.incomes[:-1]:
amount, taxable, year_rec = income.GiveMeMoney(year_rec)
cash += amount
# Update RRSP room
earnings = sum(receipt.amount for receipt in year_rec.incomes
if receipt.income_type == incomes.INCOME_TYPE_EARNINGS)
self.rrsp_room += min(
earnings * world.RRSP_ACCRUAL_FRACTION,
utils.Indexed(world.RRSP_LIMIT, year_rec.year, 1 + world.PARGE) *
year_rec.cpi)
year_rec.rrsp_room = self.rrsp_room
# Do withdrawals
if self.retired:
# Bridging
if "bridging" in self.funds and self.age < world.CPP_EXPECTED_RETIREMENT_AGE:
bridging_withdrawal_amount = self.bridging_withdrawal_table[
self.age] * self.funds["bridging"].amount
withdrawn, gains, year_rec = self.funds["bridging"].Withdraw(
bridging_withdrawal_amount, year_rec)
cash += withdrawn
self.total_retirement_withdrawals += withdrawn / year_rec.cpi
# CD drawdown strategy
proportions = (self.strategy.drawdown_preferred_rrsp_fraction,
self.strategy.drawdown_preferred_tfsa_fraction, 1)
fund_chain = [
self.funds["cd_rrsp"], self.funds["cd_tfsa"],
self.funds["cd_nonreg"]
]
year_rec.cd_drawdown_request = self.cd_drawdown_amount * year_rec.cpi
withdrawn, gains, year_rec = funds.ChainedWithdraw(
year_rec.cd_drawdown_request, fund_chain, proportions,
year_rec)
cash += withdrawn
year_rec.cd_drawdown_amount = withdrawn
self.total_retirement_withdrawals += withdrawn / year_rec.cpi
# CED drawdown_strategy
fund_chain = [
self.funds["ced_rrsp"], self.funds["ced_tfsa"],
self.funds["ced_nonreg"]
]
year_rec.ced_drawdown_request = sum(
f.amount for f in fund_chain) * world.CED_PROPORTION[self.age]
withdrawn, gains, year_rec = funds.ChainedWithdraw(
year_rec.ced_drawdown_request, fund_chain, proportions,
year_rec)
cash += withdrawn
year_rec.ced_drawdown_amount = withdrawn
self.total_retirement_withdrawals += withdrawn / year_rec.cpi
else:
target_cash = utils.Indexed(
world.YMPE, year_rec.year, 1 + world.PARGE
) * year_rec.cpi * self.strategy.savings_threshold * world.EARNINGS_YMPE_FRACTION
if cash < target_cash:
# Attempt to withdraw difference from savings
amount_to_withdraw = target_cash - cash
proportions = (
self.strategy.working_period_drawdown_tfsa_fraction,
self.strategy.working_period_drawdown_nonreg_fraction, 1)
fund_chain = [
self.funds["wp_tfsa"], self.funds["wp_nonreg"],
self.funds["wp_rrsp"]
]
withdrawn, gains, year_rec = funds.ChainedWithdraw(
amount_to_withdraw, fund_chain, proportions, year_rec)
cash += withdrawn
else:
# Save
earnings_to_save = max(earnings - target_cash,
0) * self.strategy.savings_rate
proportions = (self.strategy.savings_rrsp_fraction,
self.strategy.savings_tfsa_fraction, 1)
fund_chain = [
self.funds["wp_rrsp"], self.funds["wp_tfsa"],
self.funds["wp_nonreg"]
]
deposited, year_rec = funds.ChainedDeposit(
earnings_to_save, fund_chain, proportions, year_rec)
cash -= deposited
if deposited > 0:
self.positive_savings_years += 1
# Update funds
for fund in self.funds.values():
fund.Update(year_rec)
# update the Person's view of RRSP and TFSA room
self.tfsa_room = year_rec.tfsa_room
self.rrsp_room = year_rec.rrsp_room
# Calculate EI premium and CPP contributions
year_rec = self.CalcPayrollDeductions(year_rec)
# Now we try to get money from GIS because year_rec is populated with the needed values.
income = self.incomes[-1] # GIS is last in this list
amount, taxable, year_rec = income.GiveMeMoney(year_rec)
cash += amount
# Pay income taxes
year_rec.taxes_payable = self.CalcIncomeTax(year_rec)
cash -= year_rec.taxes_payable
# Update incomes
for income in self.incomes:
income.AnnualUpdate(year_rec)
# Pay sales tax
non_hst_consumption = min(cash, world.SALES_TAX_EXEMPTION)
hst_consumption = cash - non_hst_consumption
year_rec.consumption = hst_consumption / (
1 + world.HST_RATE) + non_hst_consumption
year_rec.sales_taxes = hst_consumption * world.HST_RATE
return year_rec
def CalcIncomeTax(self, year_rec):
"""Calculates the amount of income tax to be paid"""
# Calculate Total Income
income_sum = sum(receipt.amount for receipt in year_rec.incomes)
rrsp_withdrawal_sum = sum(
receipt.amount for receipt in year_rec.withdrawals
if receipt.fund_type in (funds.FUND_TYPE_RRSP,
funds.FUND_TYPE_BRIDGING))
capital_gains = (sum(receipt.gains
for receipt in year_rec.withdrawals) +
sum(receipt.gross_gain
for receipt in year_rec.tax_receipts))
if capital_gains > 0:
taxable_capital_gains = capital_gains * world.CG_INCLUSION_RATE
else:
self.capital_loss_carry_forward += -capital_gains
taxable_capital_gains = 0
year_rec.taxable_capital_gains = taxable_capital_gains
cpp_death_benefit = world.CPP_DEATH_BENEFIT if year_rec.is_dead else 0
total_income = income_sum + rrsp_withdrawal_sum + taxable_capital_gains + cpp_death_benefit
# Calculate Net Income before adjustments
rrsp_contribution_sum = sum(
receipt.amount for receipt in year_rec.deposits
if receipt.fund_type == funds.FUND_TYPE_RRSP)
net_income_before_adjustments = max(
total_income - rrsp_contribution_sum, 0)
# Employment Insurance Social Benefits Repayment
ei_benefits = sum(receipt.amount for receipt in year_rec.incomes
if receipt.income_type == incomes.INCOME_TYPE_EI)
ei_base_amount = utils.Indexed(
world.EI_MAX_INSURABLE_EARNINGS, year_rec.year,
1 + world.PARGE) * world.EI_REPAYMENT_BASE_FRACTION * year_rec.cpi
ei_benefit_repayment = min(
max(0, net_income_before_adjustments - ei_base_amount),
ei_benefits) * world.EI_REPAYMENT_REDUCTION_RATE
# Old Age Security and Net Federal Supplements Repayment
oas_plus_gis = sum(receipt.amount for receipt in year_rec.incomes
if receipt.income_type in (incomes.INCOME_TYPE_OAS,
incomes.INCOME_TYPE_GIS))
prospective_social_benefit_repayment = max(
0,
max(0, net_income_before_adjustments - ei_benefit_repayment) -
world.SBR_BASE_AMOUNT * year_rec.cpi) * world.SBR_REDUCTION_RATE
oas_and_gis_repayment = min(oas_plus_gis,
prospective_social_benefit_repayment)
# Total Social Benefit Repayment
total_social_benefit_repayment = ei_benefit_repayment + oas_and_gis_repayment
year_rec.total_social_benefit_repayment = total_social_benefit_repayment
# Other Payments Deduction
gis_income = sum(receipt.amount for receipt in year_rec.incomes
if receipt.income_type == incomes.INCOME_TYPE_GIS)
oas_income = sum(receipt.amount for receipt in year_rec.incomes
if receipt.income_type == incomes.INCOME_TYPE_OAS)
try:
oas_benefit_repaid = oas_and_gis_repayment * oas_income / (
gis_income + oas_income)
except ZeroDivisionError:
oas_benefit_repaid = 0
net_federal_supplements_deduction = gis_income - (
total_social_benefit_repayment -
(ei_benefit_repayment + oas_benefit_repaid))
# Net Income
net_income = net_income_before_adjustments - total_social_benefit_repayment
# Taxable Income
applied_capital_loss_amount = min(
taxable_capital_gains,
self.capital_loss_carry_forward * world.CG_INCLUSION_RATE)
taxable_income = max(
0, net_income -
(net_federal_supplements_deduction + applied_capital_loss_amount))
year_rec.taxable_income = taxable_income
# Age amount
age_amount_reduction = max(
0, net_income - world.AGE_AMOUNT_EXEMPTION *
year_rec.cpi) * world.AGE_AMOUNT_REDUCTION_RATE
age_amount = max(
0, world.AGE_AMOUNT_MAXIMUM * year_rec.cpi - age_amount_reduction)
# Federal non-refundable tax credits
if year_rec.is_dead:
federal_non_refundable_credits = 0
else:
federal_non_refundable_credits = (
world.BASIC_PERSONAL_AMOUNT * year_rec.cpi + age_amount +
year_rec.cpp_contribution +
year_rec.ei_premium) * world.NON_REFUNDABLE_CREDIT_RATE
# Federal tax on taxable income
# Tax schedule is in real terms, so we need to convert to/from nominal values
net_federal_tax = max(
0, world.FEDERAL_TAX_SCHEDULE[taxable_income / year_rec.cpi] *
year_rec.cpi - federal_non_refundable_credits)
# Tax payable
tax_payable = net_federal_tax + total_social_benefit_repayment + net_federal_tax * world.PROVINCIAL_TAX_FRACTION
return tax_payable
