Canadian Tax Brackets
Canadian Tax Brackets
As an adult in the western world, we should be familiar with the income tax brackets/rates. So here are the Canadian tax brackets:
•On the first $41,544 dollars you make, you will be charged 15%.
•Then from $41,544 – $83,088 the rate goes up to 22%.
•From $83,088 - $128,800 the rate changes to 26%
•Everything after that sits at 29%.
Now those are merely the Canadian federal tax rates. But there is more information needed to fully learn about the Canadian tax brackets. There are also the rates for each province which get calculated on form 428.
These are the provincial rates:
For Newfoundland and Labrador:
•7.7% on the first $31,904.
•12.5% on $31,904 - $63,807
•And 13.3% on anything over that
For Prince Edward Island:
•9.8% for the first $31,984
•13.8% for $31,984 – $63,969
•And 16.7% for everything over $63,969
For Nova Scotia:
•8.79% for the first $29,590
•14.95% for $29,590 - $59,180
•16.67% for $59,180 - $93,000
•17.5% for $93,000 - $150,000
•And 21% on anything over $150,000
For New Brunswick:
NYC State Income Tax Return Form
•9.1% for the first $37,149
•12.1% for $37,149 - $73,571
•12.4% for s,571 - $120,067
•And 12.7% on everything over $120,067
For Quebec:
•16% for the first $38,570
•20% for $38,570 - $77,140
•And 24% for everything over $77,140
For Ontario:
•5.05% for the first $37,774
•9.15% for $37,774 - $75,550
•And 11.16% for everything over $75,550
For Manitoba:
•10.8% for the first $31,000
•12.75% for $31,000 - $67,000
•And 17.4% for anything over $67,000
For Saskatchewan:
•11% for the first $40,919
•13% for $40,919 - $116,911
•15% for anything over $116,911
For Alberta:
•10% for all taxable income
For British Columbia:
•5.06% for the first $36,146
•7.7% for $36,146 - $72,293
•10.5% for $72,293 - $83,001
•12.29% for $83,001- $100,787
•14.7% for anything over $100,787
For the Yukon:
•7.04% for the first $41,544
•9.68% for $41,544 - $83,088
•11.84% for $83,088 - $128,800
•And 12.76% for everything over $128,800
For the Northwest Territories:
1040 ez Form Federal Income Tax
•5.nine% for the 1st $37,626
•8.six% for $37,626 - $seventy five,253
•12.2% for $75,253 - $122,345
•14.05% for every little thing around $122,345
For Nunavut:
•4% for the very first $39,612
•7% for $39,612 - $79,224
•9% for $79,224 - $128,800
•11.five% for every little thing more than $128,800
There you have it people these are the Canadian tax brackets. If you’d like a lot more information, then go straight to the supply – TurboTax Online.
No comments:
Post a Comment