Personal Tax Rates
Year 2024
Taxable Income | Tax | Marginal Tax Rate |
---|---|---|
Federal Rates | ||
$0 | $0 | 15.00% |
55,867 | 8,380 | 20.50% |
111,733 | 19,833 | 26.00% |
173,205 | 35,815 | 29.00% |
246,752 | 57,144 | 33.00% |
Ontario Personal Tax Rates | ||
$0 | $0 | 5.05% |
51,446 | 2,598 | 9.15% |
102,894 | 7,306 | 11.16% |
150,000 | 12,563 | 12.16% |
220,000 | 21,075 | 13.16% |
Ontario surtax | ||
On Ontario tax over $5,554 but less than $7,108 | 20.00% | |
Plus on Ontario tax over $7,108 | 36.00% |
Year 2023
Taxable Income | Tax | Marginal Tax Rate |
---|---|---|
Federal Rates | ||
$0 | $0 | 15.00% |
53,360 | 8,004 | 20.50% |
106,718 | 18,942 | 26.00% |
165,431 | 34,208 | 29.00% |
235,676 | 54,579 | 33.00% |
Ontario Personal Tax Rates | ||
$0 | $0 | 5.05% |
49,232 | 2,486 | 9.15% |
98,464 | 6,991 | 11.16% |
150,001 | 12,742 | 12.16% |
220,001 | 21,254 | 13.16% |
Ontario surtax | ||
On Ontario tax over $5,315 | 20.00% | |
Plus on Ontario tax over $6,802 | 36.00% |
Year 2022
Taxable Income | Tax | Marginal Tax Rate |
---|---|---|
Federal Rates | ||
$0 | $0 | 15.00% |
50,198 | 7,530 | 20.50% |
100,393 | 17,820 | 26.00% |
155,626 | 32,180 | 29.00% |
221,709 | 51,344 | 33.00% |
Ontario Personal Tax Rates | ||
$0 | $0 | 5.05% |
46,227 | 2,334 | 9.15% |
92,455 | 6,564 | 11.16% |
150,001 | 12,986 | 12.16% |
220,001 | 21,498 | 13.16% |
Ontario surtax | ||
On Ontario tax over $4,991 | 20.00% | |
Plus on Ontario tax over $6,387 | 36.00% |
Year 2021
Taxable Income | Tax | Marginal Tax Rate |
---|---|---|
Federal Rates | ||
$0 | $0 | 15.00% |
49,020 | 7,353 | 20.50% |
98,041 | 17,402 | 26.00% |
151,979 | 31,426 | 29.00% |
216,512 | 50,141 | 33.00% |
Ontario Personal Tax Rates | ||
$0 | $0 | 5.05% |
45,142 | 2,280 | 9.15% |
90,288 | 6,411 | 11.16% |
150,001 | 13,075 | 12.16% |
222,001 | 21,830 | 13.16% |
Ontario surtax | ||
On Ontario tax over $4,830 | 20.00% | |
Plus on Ontario tax over $6,182 | 36.00% |
Year 2020
Taxable Income | Tax | Marginal Tax Rate |
---|---|---|
Federal Rates | ||
$0 | $0 | 15.00% |
48,535 | 7,280 | 20.50% |
97,070 | 17,230 | 26.00% |
150,474 | 31,115 | 29.00% |
214,369 | 49,645 | 33.00% |
Ontario Personal Tax Rates | ||
$0 | $0 | 5.05% |
44,740 | 2,259 | 9.15% |
89,483 | 6,353 | 11.16% |
150,001 | 13,107 | 12.16% |
222,001 | 21,862 | 13.16% |
Ontario surtax | ||
On Ontario tax over $4,830 | 20.00% | |
Plus on Ontario tax over $6,182 | 36.00% |