Information on income tax rates in Canada including federal rates and those rates specific to provinces and territories.

Dec 10, 2024 · Federal Tax Bracket Rates for 2024. According to the Canada Revenue Agency (CRA, these are the federal tax rates for tax year 2024: 15% on the first $55,867 of taxable income. 20.5% on taxable income over $55,867 up to $111,733. 26% on taxable income over $111,733 up to $173,205. 29% on taxable income over $173,205 up to $246,752. 33% on any ...

TaxTips.ca - Canada's 2024 & 2025 Personal income tax brackets and tax rates for eligible and non-eligible dividends, capital gains, and other income.

Information for individuals and businesses on rates such as federal and provincial/territorial tax rates, prescribed interest rates, EI rates, corporation tax rates, excise tax rates, and more.

Ontario indexes its tax brackets and surtax thresholds using the same formula as that used federally, but uses the provincial inflation rate rather than the federal rate in the calculation. The inflation factor for this province is 2.8% for 2025. Ontario surtax of 20% applies to the provincial income tax (before surtax) in excess of $5,710.

All provinces and territories compute income tax using 'tax-on-income' systems (i.e. they set their own rates, brackets, and credits). All except Quebec use the federal definition of taxable income. The following table shows the top 2024 provincial/territorial tax rates and surtaxes.

Nov 12, 2024 · Within Canada’s tax system, there are five federal tax brackets, each with its own rate. You also pay taxes to the provincial or territorial government where you live, and each has its own...

Feb 10, 2025 · Newfoundland and Labrador has the highest number of tax brackets in Canada, with eight discrete rates based on how much you make. Here are its provincial tax brackets, rates and basic personal amount for 2024: 8.7% on taxable income up to $43,198, plus; 14.5% on taxable income over $43,198 up to $86,395, plus

We’ve gathered the updated tax brackets for 2025, along with an easy-to-understand overview of the Canadian tax system to help you prepare and plan for future tax filings. For tax bracket rates for all other provinces and territories, please scroll down for the full list below. Sign up to get investing insights from the pros.

Dec 17, 2024 · For 2025, the CRA tax brackets are increasing by 2.7%. This is based on the Consumer Price Index (CPI) for the 12 months ending in October 2024. Let’s dive into what these new brackets mean for you and how you can use tools like a TFSA (Tax-Free Savings Account) to save on taxes now and in the future. What Are the CRA Tax Brackets for 2025?