Canadian Revenue Agency CRA oversees the payment of taxes at both federal and provincial levels in Canada.
The Canadian income tax system is a self-assessment regime. Taxpayers assess their tax liability by filing a return with the CRA by the required filing deadline.
According to its website, the following are the CRA’s multi-tiered tax rates set for 2023:
- 15% on the first $50,197 of taxable income, plus
- 20.5% on the next $50,195 of taxable income (on the portion of taxable income over 50,197 up to $100,392), plus
- 26% on the next $55,233 of taxable income (on the portion of taxable income over $100,392 up to $155,625), plus
- 29% on the next $66,083 of taxable income (on the portion of taxable income over 155,625 up to $221,708), plus
- 33% of taxable income over $221,708
Besides federal taxes, provincial governments also impose taxes with various rates but patterned from the federal tax computation.
| Provinces and territories | Rates |
|---|---|
| Newfoundland and Labrador | 8.7% on the portion of your taxable income that is $39,147 or less, plus
14.5% on the portion of your taxable income that is more than $39,147 but not more than $78,294, plus - Advertisement -
15.8% on the portion of your taxable income that is more than $78,294 but not more than $139,780, plus 17.8% on the portion of your taxable income that is more than $139,780 but not more than $195,693, plus 19.8% on the portion of your taxable income that is more than $195,693 but not more than $250,000, plus 20.8% on the portion of your taxable income that is more than $250,000 but not more than $500,000, plus - Advertisement -
21.3% on the portion of your taxable income that is more than $500,000 but not more than $1,000,000, plus 21.8% on the portion of your taxable income that is more than $1,000,000 |
| Prince Edward Island | 9.8% on the portion of your taxable income that is $31,984 or less, plus
13.8% on the portion of your taxable income that is more than $31,984 but not more than $63,969, plus 16.7% on the portion of your taxable income that is more than $63,969 |
| Nova Scotia | 8.79% on the portion of your taxable income that is $29,590 or less, plus
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14.95% on the portion of your taxable income that is more than $29,590 but not more than $59,180, plus 16.67% on the portion of your taxable income that is more than $59,180 but not more than $93,000, plus 17.5% on the portion of your taxable income that is more than $93,000 but not more than $150,000, plus 21% on the portion of your taxable income that is more than $150,000 |
| New Brunswick | 9.4% on the portion of your taxable income that is $44,887 or less, plus
14.82% on the portion of your taxable income that is more than $44,887 but not more than $89,775, plus 16.52% on the portion of your taxable income that is more than $89,775 but not more than $145,955, plus 17.84% on the portion of your taxable income that is more than $145,955 but not more than $166,280, plus 20.3% on the portion of your taxable income that is more than $166,280 |
| Quebec | Go to Income tax rates (Revenu Québec Web site). |
| Ontario | 5.05% on the portion of your taxable income that is $46,226 or less, plus
9.15% on the portion of your taxable income that is more than $46,226 but not more than $92,454, plus 11.16% on the portion of your taxable income that is more than $92,454 but not more than $150,000, plus 12.16% on the portion of your taxable income that is more than $150,000 but not more than $220,000, plus 13.16% on the portion of your taxable income that is more than $220,000 |
| Manitoba | 10.8% on the portion of your taxable income that is $34,431 or less, plus
12.75% on the portion of your taxable income that is more than $34,431 but not more than $74,416, plus 17.4% on the portion of your taxable income that is more than $74,416 |
| Saskatchewan | 10.5% on the portion of your taxable income that is $46,773 or less, plus
12.5% on the portion of your taxable income that is more than $46,773 but not more than $133,638, plus 14.5% on the portion of your taxable income that is more than $133,638 |
| Alberta | 10% on the portion of your taxable income that is $131,220 or less, plus
12% on the portion of your taxable income that is more than $131,220 but not more than $157,464, plus 13% on the portion of your taxable income that is more than $157,464 but not more than $209,952, plus 14% on the portion of your taxable income that is more than $209,952 but not more than $314,928, plus 15% on the portion of your taxable income that is more than $314,928 |
| British Columbia | 5.06% on the portion of your taxable income that is $43,070 or less, plus
7.7% on the portion of your taxable income that is more than $43,070 but not more than $86,141, plus 10.5% on the portion of your taxable income that is more than $86,141 but not more than $98,901, plus 12.29% on the portion of your taxable income that is more than $98,901 but not more than $120,094, plus 14.7% on the portion of your taxable income that is more than $120,094 but not more than $162,832, plus 16.8% on the portion of your taxable income that is more than $162,832 but not more than $227,091, plus 20.5% on the portion of your taxable income that is more than $227,091 |
| Yukon | 6.4% on the portion of your taxable income that is $50,197 or less, plus
9% on the portion of your taxable income that is more than $50,197 but not more than $100,392, plus 10.9% on the portion of your taxable income that is more than $100,392 but not more than $155,625, plus 12.8% on the portion of your taxable income that is more than $155,625 but not more than $500,000, plus 15% on the portion of your taxable income that is more than $500,000 |
| Northwest Territories | 5.9% on the portion of your taxable income that is $45,462 or less, plus
8.6% on the portion of your taxable income that is more than $45,462 but not more than $90,927, plus 12.2% on the portion of your taxable income that is more than $90,927 but not more than $147,826, plus 14.05% on the portion of your taxable income that is more than $147,826 |
| Nunavut | 4% on the portion of your taxable income that is $47,862 or less, plus
7% on the portion of your taxable income that is more than $47,862 but not more than $95,724, plus 9% on the portion of your taxable income that is more than $95,724 but not more than $155,625, plus 11.5% on the portion of your taxable income that is more than $155,625 |
