… 13.16 % on the amount over $220,000, 10.8% on the first $32,670 of taxable income, + If your taxable income is $49,020 or less. Canadian dividends. 12.16% on the next $70,000, + There are different levels or federal and provincial tax brackets which have different rates of tax. 8.7% on the first $37,591 of taxable income, + 12.5% on the next $83,989, + For example, although the usual provincial sales tax … 25.75% on the amount over $106,555, 5.05% on the first $43,906 of taxable income, + 17.4% on the amount over $70,610, 10.5% on the first $45,225 of taxable income, + Of interest to corporations who need to complete schedule 5 is the Provincial Income Allocation Newsletter, a publication outlining the CRA's administrative positions and technical opinions on issues specific to provincial income allocation. Income tax rates for 2021 The income tax rates for the 2021 taxation year, determined on the basis of your taxable income, are as follows: Taxable income Rate; $45,105 or less: 15%: More than $45,105 … 14.7% on the next $41,860, + This taxpayer will get a federal tax … Provincial/Territorial Income Tax Rates and Brackets for 2017 Except Nova Scotia and Prince Edwards Island all other provinces and territories indexed their tax brackets and basic personal … Provincial or territorial specific non-refundable tax credits are also calculated on Form 428. Tax credits are excellent for lower-income Canadians because everyone gets to deduct the tax payable at the lowest tax bracket, so around 15% for federal credits and 5.06% for provincial credits. 11.16% on the next $62,187, + You will not receive a reply. To find income tax rates from previous years, see the Income Tax Package for that year. Let's take an example of a resident of British Columbia earning $15,000. 2. The tax brackets and rates can change in every provincial budget. 15.8% on the next $59,043, + Easy income tax calculator for an accurate British Columbia tax return estimate. 18.3% on the amount over $187,913, 9.8% on the first $31,984 of taxable income, + 14.5% on the next $37,590, + Visit the CRA’s provincial tax rates link and the Ontario page for this year’s tax bracket rates. 16.52% on the next $53,307, + 17.3% on the next $53,689, + For 2018 and previous tax years, you can find the federal tax rates on Schedule 1. 7.7% on the next $42,185, + 16.67% on the next $33,820, + The rate of tax increases as the amount of income … 17.5% on the next $57,000, + For example, if your taxable income is more than $42,184, the first $42,184 of taxable income is taxed at 5.06%, the next $42,185 of taxable income is taxed at 7.70%, the next $12,497 of taxable income is taxed at 10.5%, the next $20,757 of taxable income is taxed at 12.29%, the next $41,860 of taxable income … 13.8% on the next $31,985, + Note that you will not receive a reply.) … Canadian provincial corporate tax rates for active business income 2021 - Includes all rate changes announced up to January 15, 2021. 9% on the next $47,629, + 12.16% on the next $70,000, + 8.6% on the next $43,140, + 10.5% on the next $12,060, + 9.15% on the next $45,145, + 20% on the next $43,785, + You will find the provincial or territorial tax rates on Form 428 for the respective province or territory (all except Quebec). 12.8% on the next $352,333, + 14.7% on the next $40,394, + The top combined provincial and federal tax rate on regular income in British Columbia is 53.50%. If your taxable income is more than $151,978, but not more than $216,511. For details on current federal rates, go to Canada Revenue Agency's information on Canadian income tax rates for individuals. The rate … 14.5% on the amount over $129,214, 10% on the first $131,220 of taxable income, + 3. The dividend rates apply to the actual amount of taxable dividends received from taxable Canadian corporations. "Tax rates vary by province, (but in every province,) your tax liability increases as your income … income tax as a result of a low-income tax reduction. For details, go to the Agence du Revenu du Québec information on Income Tax Rates . You can use the chart below to see the tax brackets and rates for other provinces and territories. 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