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% | |