Income Brackets Canada

The tax brackets for every province and territory in canada. Go to income tax rates revenu qu├ębec web site.

Pin By Andrew Wright On Div Income Tax Brackets Tax Brackets Federal Income Tax

5 05 on the first 45 142 of taxable income 9 15 on the next 45 145 11 16 on the next 59 713 12 16 on the next 70 000 13 16 on the amount over 220 000.

Income brackets canada. The tax bracket is based on your taxable income that is your total income minus allowable deductions and exemptions as discussed in the section titled reducing your taxes. 10 8 on the first 33 723 of taxable income 12 75 on the next 39 162 17 4 on the amount over 72 885. Your income falls into one of four income tax brackets or segments.

15 on the first 48 535 of taxable income plus 20 5 on the next 48 534 of taxable income on the portion of taxable income over 48 535 up to 97 069 plus 26 on the next 53 404 of taxable income on the portion of taxable income over 97 069 up to 150 473 plus. Each bracket pays a different rate of tax as the table below shows. In tax year 2020 canada s income tax brackets are.

In the same way that canada has federal income brackets to calculate taxes every province and territory has their own tax brackets and.

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