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Feb 14, 2024 · Tax rates vary between the federal and provincial levels, with provinces adjusting rates to suit local needs. Tax brackets are also different, with taxpayers having to account for federal and provincial taxes separately. Exemptions, deductions and credits can vary between federal and provincial systems, adding complexity to tax calculations.
- 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 may also be entitled to provincial or territorial credits in addition to your federal credits. Provincial and territorial governments develop their own tax laws and policies; however, the Canada Revenue Agency (CRA) collects and administers the individual income taxes on behalf of the provincial and territorial governments (except for the province of Quebec ).
See our Tax Rates page for a comparison of total taxes payable by province, and our Marginal Tax Rates page for marginal tax rates for each province/territory. Tax Tip: If you are moving to a lower tax rate province, do it before December 31st. If you are moving to a higher tax rate province, wait till after December 31st.
Dec 5, 2019 · Provincial Tax Returns. Each taxpayer files a personal tax return to the federal government. You must file a tax return if you have a balance owing of at least $2. The federal government collects tax on behalf of the provinces and territories. With the exception of Quebec which has its own provincial system, Form 428 calculates the provincial ...
There are 6 steps to completing your income tax and benefit return. This structure is the same for simple tax situations and complex ones. Knowing the basic steps and seeing how they connect will help you do your taxes, whether you use a paper return or file electronically using certified tax software. Income tax and benefit return.
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Apr 5, 2024 · In Canada, the CRA is tasked with administering income tax. The income tax year runs from January 1 to December 31. If you owe income tax from that period, you have to pay it by April 30 of the following year (by April 30, 2024). While late submissions are accepted, you may face a penalty or fee. In 2024, you’ll be filing taxes for the income ...
