Tax Rates
Keep on top of your tax planning with the latest federal (Canadian) and provincial income tax rates for individuals and corporations.
Personal Income Tax Rates
Corporate Income Tax Rates
Combined Personal Income Tax Rates
Province
CURRENT YEAR | British Columbia | 2023
Taxable Income | Other Income (Including business, salary, and employment) |
Capital Gains | Canadian Dividends | |
Eligible | Non-Eligible | |||
first $45,654 | 20.06% | 10.03% | -9.60% | 10.43% |
over $45,654 up to $53,359 |
22.70% | 11.35% | -5.96% | 13.47% |
over $53,359 up to $91,310 |
28.20% | 14.10% | 1.63% | 19.80% |
over $91,310 up to $104,835 |
31.00% | 15.50% | 5.49% | 23.02% |
over $104,835 up to $106,717 |
32.79% | 16.40% | 7.96% | 25.07% |
over $106,717 up to $127,299 |
38.29% | 19.15% | 15.55% | 31.40% |
over $127,299 up to $165,430 |
40.70% | 20.35% | 18.88% | 34.17% |
over $165,430 up to $172,602 |
44.02% | 22.01% | 23.46% | 37.99% |
over $172,602 up to $235,675 |
46.12% | 23.06% | 26.36% | 40.41% |
over $235,675 up to $240,716 |
49.80% | 24.90% | 31.44% | 44.64% |
over $240,716 | 53.50% | 26.75% | 36.54% | 48.89% |
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PAST YEAR | British Columbia | 2022
Taxable Income | Other Income (Including business, salary, and employment) |
Capital Gains | Canadian Dividends | |
Eligible | Non-Eligible | |||
first $43,070 | 20.06% | 10.03% | -9.60% | 10.43% |
over $43,070 up to $50,197 |
22.70% | 11.35% | -5.96% | 13.47% |
over $50,197 up to $86,141 |
28.20% | 14.10% | 1.63% | 19.80% |
over $86,141 up to $98,901 |
31.00% | 15.50% | 5.49% | 23.02% |
over $98,901 up to $100,392 |
32.79% | 16.40% | 7.96% | 25.07% |
over $100,392 up to $120,094 |
38.29% | 19.15% | 15.55% | 31.40% |
over $120,094 up to $155,625 |
40.70% | 20.35% | 18.88% | 34.17% |
over $155,625 up to $162,832 |
44.08% | 22.04% | 23.54% | 38.06% |
over $162,832 up to $221,708 |
46.18% | 23.09% | 26.44% | 40.48% |
over $221,708 up to $227,091 |
49.80% | 24.90% | 31.44% | 44.64% |
over $227,091 | 53.50% | 26.75% | 36.54% | 48.89% |
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Combined Corporate Income Tax Rates
CURRENT YEAR | 2023
Lower Rate | Higher Rate | Business Limit | |
British Columbia | 11.00% | 27.00% | $500,000 |
Alberta | 11.00% | 23.00% | $500,000 |
Saskatchewan | 9.00%1 | 27.00% | $600,000 |
Manitoba | 9.00% | 27.00% | $500,000 |
Ontario | 12.20% | 26.50% | $500,000 |
Notes:
¹ Saskatchewan’s small business corporate income tax rate will temporarily remain at 0% until June 30, 2023. The restoration of the rate to 1% per cent will be delayed to July 1, 2023, and on July 1, 2024 the rate will return to 2%.
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PAST YEAR | 2022
Lower Rate | Higher Rate | Business Limit | |
British Columbia | 11.00% | 27.00% | $500,000 |
Alberta | 11.00% | 23.00% | $500,000 |
Saskatchewan | 9.00% | 27.00% | $500,000 |
Manitoba | 9.00% | 27.00% | $500,000 |
Ontario | 12.20% | 26.50% | $500,000 |
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