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Please read the article Understanding the Tables of Personal Income Tax Rates. The Federal tax brackets and personal amount are increased for 2020 by an indexation factor of 1.019. The indexation factors, tax brackets and tax rates have been confirmed to Canada Revenue Agency information.
- 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
General income tax and benefits packages from 1985 to 2013. Each package includes the guide, the return, and related schedules, and the provincial information and forms.
In Canada the personal allowance, also known as the basic personal amount, plays a critical role in the calculation of income tax for individuals. Here's an overview of how this works: Understanding the Basic Personal Amount. Definition: The basic personal amount is a non-refundable tax credit that every individual can claim on their income tax ...
Oct 24, 2017 · Canada - Federal 2019 and 2018 Tax Brackets and Marginal Tax Rates Income Tax Act s. 117, 117.1, 121. The Federal tax brackets and personal amount are increased for 2019 by an indexation factor of 1.022. The indexation factors, tax brackets and tax rates have been confirmed to Canada Revenue Agency information.
These calculations do not include non-refundable tax credits other than the basic personal tax credit. To determine the value of other non-refundable tax credits that may be available, see the individual rate cards. * The rates apply to the actual amount of taxable dividends received from taxable Canadian corporations. Eligible dividends are ...
People also ask
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When should I file a tax return?
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Are federal tax brackets & personal amount increased for 2020?
Oct 13, 2020 · Overview. Not everyone has to file a tax return every year. However, you should file if you are getting a refund, wish to claim any benefits or credits for yourself or your family (such as the GST/HST Credit, Canada Child Benefits or other Provincial & Territorial programs), and to maintain any carry-forward amounts, (such as education credits or Capital losses), for use in future tax years.
