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Tax Rates

Keep on top of your tax planning with the latest federal (Canadian) and provincial income tax rates for individuals and corporations.

Tax Tables
Personal Income Tax Rates
Corporate Income Tax Rates
Combined Personal Income Tax Rates
Province
CURRENT YEAR | British Columbia | 2024
Taxable Income Other Income
(Including business,
salary, and employment)
Capital Gains Canadian Dividends
Eligible Non-Eligible
first $47,937 20.06% 10.03% nil 10.43%
over $47,937
up to $55,867
22.70% 11.35% nil 13.47%
over $55,867
up to $95,875
28.20% 14.10% 1.63% 19.80%
over $95,875
up to $110,076
31.00% 15.50% 5.49% 23.02%
over $110,076
up to $111,733
32.79% 16.40% 7.96% 25.07%
over $111,733
up to $133,664
38.29% 19.15% 15.55% 31.40%
over $133,664
up to $173,205
40.70% 20.35% 18.88% 34.17%
over $173,205
up to $181,232
44.02% 22.01% 23.46% 37.99%
over $181,232
up to $246,752
46.12% 23.06% 26.36% 40.41%
over $246,752
up to $252,752
49.80% 24.90% 31.44% 44.64%
over $252,752 53.50% 26.75% 36.54% 48.89%

 

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PAST 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% nil 10.43%
over $45,654
up to $53,359
22.70% 11.35% nil 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% nil 10.43%
over $43,070
up to $50,197
22.70% 11.35% nil 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 | 2024
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 1% per cent until July 1, 2024, at which time the rate will return to 2%.

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PAST 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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