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Alternative minimum tax (AMT) is estimated based on available information, and is only useful as it relates to capital gains and Canadian dividends. This calculator is intended to be used for planning purposes. It does not include every available tax credit. We strive for accuracy, but cannot guarantee it.
Dec 6, 2022 · For your 2022 income, if your base provincial tax is up to $4,991, you do not pay a surtax. If your base provincial tax is between $4,991 and $6,387, you pay 20% on the portion of provincial tax ...
2022 Personal tax calculator. Calculate your combined federal and provincial tax bill in each province and territory. The calculator reflects known rates as of December 1, 2022. Taxable Income. Calculate. Province. Tax Payable. After-Tax Income. Average Tax Rate.
- Overview
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- 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
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•+ 2023
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•Federal
•Newfoundland and Labrador
•Prince Edward Island
Personal Income Tax Rates for Canada and Provinces/Territories for 2022 and 2023. Choose your province or territory below to see the combined Federal & Provincial/Territorial marginal tax rates. Provincial Tax Comparisons - summaries of total income taxes payable in each province/territory at various levels of employment income or investment ...
2022 Tax Rate. $15,000. 15%. $14,398. 15%. (1) The personal amount is increased federally and for Yukon: - for 2023: from $13,521 to $15,000 for taxpayers with net income (line 23600) of $165,430 or less. For incomes above this threshold, the additional amount of $1,479 is reduced until it becomes zero at net income of $235,675.
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That means you will pay 15% in federal tax on your $50,000 of income—that’s $7,500, not including deductions and claims of course. To give an another example, in November 2023, the average ...
