|
|
Maximum Personal Marginal Income Tax Rates -2007(in
Percentages)
| |
Ordinary Income1 |
|
Federal |
29.00 |
|
British
Columbia |
43.70 |
|
Alberta |
39.00 |
|
Saskatchewan |
44.00 |
|
Manitoba |
46.40 |
|
Ontario |
40.16 *Surtaxes extra |
|
Quebec |
53.00 |
|
New Brunswick |
46.95 |
|
Nova Scotia |
46.50*Surtaxes extra |
|
Prince Edward
Island |
45.70*Surtaxes extra |
|
Newfoundland
& Labrador |
46.26*Surtaxes extra |
|
Northwest
Territories |
43.05 |
|
Nunavut |
40.50 |
|
Yukon |
41.76 |
The rates shown are the
actual maximum combined federal and provincial marginal tax rates,
excluding surtaxes, where applicable at December 15, 2007.
-
Ordinary income includes
such items as salary, interest, business income and income from
other sources, but excludes Canadian dividends and capital gains.
|
|
| 15% on the first $37,178 of
taxable income, +
|
| 22% on the next $37,179 of
taxable income (on the portion of taxable income
between $37,178 and $74,357), +
|
| 26% on the next $46,530 of
taxable income (on the portion of taxable income
between $74,357 and $120,887), +
|
| 29% of taxable income over $120,887.
|
Provincial / Territorial tax rates (combined chart)
|
Newfoundland and Labrador |
9.64% on the first $29,886 of taxable income,
+
14.98% on the next $29,886, +
17.26% on the amount over $59,772 |
|
Prince Edward Island |
9.8% on the first $31,369 of taxable income, +
13.8% on the next $31,370, +
16.7% on the amount over $62,739 |
|
Nova Scotia |
8.79% on the first $29,590 of taxable income,
+
14.95% on the next $29,590, +
16.67% on the next $33,820 +
17.5% on the amount over $93,000 |
|
New Brunswick |
10.12% on the first $34,186 of taxable income,
+
15.48% on the next $34,188, +
16.8% on the next $42,787, +
17.95% on the amount over $111,161 |
|
Ontario |
6.05% on the first $35,488 of taxable income,
+
9.15% on the next $35,488, +
11.16% on the amount over $70,976 |
|
Manitoba |
10.9% on the first $30,544 of taxable income,
+
13% on the next $34,456, +
17.4% on the amount over $65,000 |
|
Saskatchewan |
11% on the first $38,405 of taxable income, +
13% on the next $71,324, +
15% on the amount over $109,729 |
|
Alberta |
10% of taxable income |
|
British Columbia |
5.7% on the first $34,397 of taxable income, +
8.65% on the next $34,397, +
11.1% on the next $10,190, +
13% on the next $16,925, +
14.7% on the amount over $95,909 |
|
Yukon |
7.04% on the first $37,178 of taxable income,
+
9.68% on the next $37,179, +
11.44% on the next $46,530, +
12.76% on the amount over $120,887 |
|
Northwest Territories |
5.9% on the first $35,315 of taxable income, +
8.6% on the next $35,316, +
12.2% on the next $44,199, +
14.05% on the amount over $114,830 |
|
Nunavut |
4% on the first $37,178 of taxable income, +
7% on the next $37,179, +
9% on the next $46,530, +
11.5% on the amount over $120,887 |
|
|
