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TaxTips.ca - 2022 Canadian income tax and RRSP savings calculator - - calculates taxes, shows RRSP savings, includes most deductions and tax credits.
Aug 8, 2022 · The Public Transit Tax Credit is available to taxpayers who use public transit to commute to work or school. The credit is worth 15% of the cost of eligible transit passes, up to a maximum of $225 per month. To qualify for the credit, taxpayers must keep receipts for their transit passes or tickets.
Dec 6, 2022 · Here’s how this gets calculated: The lowest federal tax bracket for 2022 is $0 up to $50,197. If you earned, say, $40,000 from all sources of taxable income—that includes paid work, bank ...
The 2022 edition of Individual Tax Statistics by Tax Bracket presents basic counts and amounts of individual tax filer information by tax bracket. These statistics are based on the 2020 tax year initial assessment data up to January 28, 2022.
- Overview
- On this page
- 2024 federal income tax rates
- 2024 provincial and territorial income tax rates
- Previous year income tax rates
The Government of Canada sets the federal income tax rates for individuals. Each province and territory determines their own income tax rates.
Provincial or territorial income tax rates apply in addition to federal income tax rates.
•2024 federal income tax rates
•2024 provincial and territorial income tax rates
These rates apply to your taxable income. Your taxable income is your income after various deductions, credits, and exemptions have been applied.
There are also various tax credits, deductions and benefits available to you to reduce your total tax payable.
Provincial and territorial tax rates vary across Canada; however, your provincial or territorial income tax (except Quebec) is calculated in the same way as your federal income tax.
•Newfoundland and Labrador
•Prince Edward Island
•Nova Scotia
•New Brunswick
•Quebec
Select the tax year
•+ 2023
Select "Federal" or your province or territory
•Federal
•Newfoundland and Labrador
•Prince Edward Island
You can claim the OSPTTC for qualifying payments you made for the use of eligible public transit services in 2023. A qualifying payment is an amount paid for any of the following: a public transit pass for a set number of rides during a period of at least one day; a public transit pass for an unlimited number of rides; an electronic payment card
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What is the 2022 edition of individual tax statistics by tax bracket?
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How are provincial and territorial tax rates calculated in Canada?
Revised: January 23, 2024. TaxTips.ca - Canada's 2022 & 2023 Personal income tax brackets and tax rates for eligible and non-eligible dividends, capital gains, and other income.
