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Information on income tax rates in Canada including federal rates and those rates specific to provinces and territories.
Canada 2025 and 2024 Tax Rates & Tax Brackets. Income Tax Act s. 117, 117.1, 121. The Federal tax brackets and personal tax credit amounts are increased for 2025 by an indexation factor of 1.027 (a 2.7% increase). The 2024 Federal Budget proposed an increase in the capital gains inclusion rate to 66 2/3% for the portion of gains realized after ...
Your tax rate will vary by how much income you declare at the end of the year on your T1 General Income Tax Return and where you live in Canada. Importantly, your provincial or territorial rate is determined by the province/territory you are living in on December 31 of the tax year.
Individuals resident in Canada are subject to Canadian income tax on worldwide income. Relief from double taxation is provided through Canada's international tax treaties, as well as via foreign tax credits and deductions for foreign taxes paid on income derived from non-Canadian sources.
Canada’s income tax brackets for 2024, plus the maximum tax you’ll pay based on income. Want an idea of how much tax you paid—or will be paying—for 2024? Here are the federal and provincial tax...
Canadians pay tax to the federal government as well as the province or territory where they live, which is why you’ll see tax rates for both. To help you figure out how much you can expect to...
Federal and Provincial/Territorial Income Tax Rates and Brackets for 2024. Current as of September 30, 2024.
Canadian income tax rates for individuals. Rates for current and previous tax years that an individual uses when completing their income tax and benefit return. Prescribed interest rates. For amounts owed to the Canada Revenue Agency (CRA) and for any amounts the CRA owes to individuals and corporations.
Related Calculators. Canada Personal Income Tax Tables in 2024. The Income tax rates and personal allowances in Canada are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Canada Tax Calculator 2024.
Tables of Personal Income Tax Brackets and Tax Rates in Canada For All Provinces & Territories. The tables of personal income tax rates show the marginal tax rates for capital gains (both for 50% and 66.7% inclusion rates), eligible and non-eligible Canadian dividends, and other income.