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
Canadian Personal Income Tax Rates
CURRENT YEAR | 2022
| Taxable Income | Other Income (Including business, salary, and employment) |
Capital Gains | Canadian Dividends | |
| Eligible ¹ | Non-Eligible ² | |||
| first $50,197 | 15.00% | 7.50% | -0.03% | 6.87% |
| over $50,197 up to $100,392 |
20.50% | 10.25% | 7.56% | 13.19% |
| over $100,392 up to $155,625 |
26.00% | 13.00% | 15.15% | 19.52% |
| over $155,625 up to $221,708 |
29.38% | 14.69% | 19.81% | 23.41% |
| over $221,708 | 33.00% | 16.50% | 24.81% | 27.57% |
Notes:
¹ NL, NT, NU and PE use the canadian small business limit.
² Nova Scotia provides a corporate tax holiday under s. 42 of their Income Tax Act for the first 3 taxation years of a new small business after incorporation. See New Small Business Tax Deduction on the Nova Scotia website.
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PAST YEAR | 2021
| Taxable Income | Other Income (Including business, salary, and employment) |
Capital Gains | Canadian Dividends | |
| Eligible ¹ | Non-Eligible ² | |||
| first $49,020 | 15.00% | 7.50% | -0.03% | 6.87% |
| over $49,020 up to $98,040 |
20.50% | 10.25% | 7.56% | 13.19% |
| over $98,040 up to $151,978 |
26.00% | 13.00% | 15.15% | 19.52% |
| over $151,978 up to $216,511 |
29.32% | 14.66% | 19.73% | 23.34% |
| over $216,511 | 33.00% | 16.50% | 24.81% | 27.57% |
Notes:
¹ NL, NT, NU and PE use the canadian small business limit.
² Nova Scotia provides a corporate tax holiday under s. 42 of their Income Tax Act for the first 3 taxation years of a new small business after incorporation. See New Small Business Tax Deduction on the Nova Scotia website.
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Provincial Personal Income Tax Rates
Province
British Columbia | 2022
| Taxable Income | Tax Rates |
| first $43,070 | 5.06% |
| over $43,070 up to $86,141 | 7.70% |
| over $86,141 up to $98,901 | 10.50% |
| over $98,901 up to $120,094 | 12.29% |
| over $120,094 up to $162,832 | 14.70% |
| over $162,832 up to $227,091 | 16.80% |
| over $227,091 | 20.50% |
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British Columbia | 2021
| Taxable Income | Tax Rates |
| first $42,184 | 5.06% |
| over $42,184 up to $84,369 | 7.70% |
| over $84,369 up to $96,866 | 10.50% |
| over $96,866 up to $117,623 | 12.29% |
| over $117,623 up to $159,483 | 14.70% |
| over $159,483 up to $222,420 | 16.80% |
| over $222,420 | 20.50% |
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Combined Personal Income Tax Rates
Province
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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British Columbia | 2021
| Taxable Income | Other Income (Including business, salary, and employment) |
Capital Gains | Canadian Dividends | |
| Eligible | Non-Eligible | |||
| first $42,184 | 20.06% | 10.03% | -9.60% | 10.43% |
| over $42,184 up to $49,020 |
22.70% | 11.35% | -5.96% | 13.47% |
| over $49,020 up to $84,369 |
28.20% | 14.10% | 1.63% | 19.80% |
| over $84,369 up to $96,866 |
31.00% | 15.50% | 5.49% | 23.02% |
| over $96,866 up to $98,040 |
32.79% | 16.40% | 7.96% | 25.07% |
| over $98,040 up to $117,623 |
38.29% | 19.15% | 15.55% | 31.40% |
| over $117,623 up to $151,978 |
40.70% | 20.35% | 18.88% | 34.17% |
| over $151,978 up to $159,483 |
44.02% | 22.01% | 23.46% | 37.99% |
| over $159,483 up to $216,511 |
46.12% | 23.06% | 26.36% | 40.41% |
| over $216,511 up to $222,420 |
49.80% | 24.90% | 31.44% | 44.64% |
| over $222,420 | 53.50% | 26.75% | 36.54% | 48.89% |
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Canadian Corporate Income Tax Rates
CURRENT YEAR | 2022
| Lower Rate | Higher Rate | Business Limit | |
| Canadian | 9% | 15% | $500,000 |
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PAST YEAR | 2021
| Lower Rate | Higher Rate | Business Limit | |
| Canadian | 9% | 15% | $500,000 |
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Provincial Corporate Income Tax Rates
CURRENT YEAR | 2022
| Lower Rate | Higher Rate | Business Limit | |
| British Columbia | 2.00% | 12.00% | $500,000 |
| Alberta | 2.00% | 8.00% | $500,000 |
| Saskatchewan | 0.00% | 12.00% | $500,000 |
| Manitoba | 0.00% | 12.00% | $500,000 |
| Ontario | 3.20% | 11.50% | $500,000 |
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PAST YEAR | 2021
| Lower Rate | Higher Rate | Business Limit | |
| British Columbia | 2.00% | 12.00% | $500,000 |
| Alberta | 2.00% | 8.00% | $500,000 |
| Saskatchewan | 0.00% | 12.00% | $500,000 |
| Manitoba | 0.00% | 12.00% | $500,000 |
| Ontario | 3.20% | 11.50% | $500,000 |
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Combined Corporate Income Tax Rates
CURRENT 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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PAST YEAR | 2021
| 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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