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Canada Income Tax Rate for 2017, 2016, 2015, 2014, 2013

Canada Federal tax Rate 2016

Personal Income Tax Rate 2016

Chargeable Income ($)

 

Tax Rate

0 to 45,282

15%

45,282 to 90,563

20.5

90,563 to 140,388

26%

140,388 to 200,000

29%

200,000 and over

33%

 

 

 

Provincial/territorial tax rates for 2016

Tax for all provinces (except Quebec) and territories is calculated the same way as federal tax.

Form 428 is used to calculate this provincial or territorial tax. Provincial or territorial specific non-refundable tax credits are also calculated on Form 428.

Provincial/territorial tax rates (combined chart)

Provinces/territories

 

Tax Rate

Newfoundland and Labrador

8.2% on the first $35,148 of taxable income, +
13.5% on the next $35,147, +
14.55% on the next $55,205, +
15.8% on the next $50,200, +
16.8% on the amount over $175,700

 

Prince Edward Island

 

9.8% on the first $31,984 of taxable income, +
13.8% on the next $31,985, +
16.7% on the amount over $63,969

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 next $57,000, +
21% on the amount over $150,000

New Brunswick

9.68% on the first $40,492 of taxable income, +
14.82% on the next $40,493, +
16.52% on the next $50,679, +
17.84% on the next $18,336, +
20.3% on the amount over $150,000

Ontario

5.05% on the first $41,536 of taxable income, +
9.15% on the next $41,539, +
11.16% on the next $66,925, +
12.16% on the next $70,000, +
13.16 % on the amount over $220,000

Manitoba

10.8% on the first $31,000 of taxable income, +
12.75% on the next $36,000, +
17.4% on the amount over $67,000

Saskatchewan

11% on the first $44,601 of taxable income, +
13% on the next $82,829, +
15% on the amount over $127,430

Alberta

10% on the first $125,000 of taxable income, +
12% on the next $25,000, +
13% on the next $50,000, +
14% on the next $100,000, +
15% on the amount over $300,000

British Columbia

5.06% on the first $38,210 of taxable income, +
7.7% on the next $38,211, +
10.5% on the next $11,320, +
12.29% on the next $18,802, +
14.7% on the amount over $106,543

Yukon

6.4% on the first $45,282 of taxable income, +
9% on the next $45,281, +
10.9% on the next $49,825, +
12.8% on the next $359,612, +
15% on the amount over $500,000

Northwest Territories

5.9% on the first $41,011 of taxable income, +
8.6% on the next $41,013, +
12.2% on the next $51,329, +
14.05% on the amount over $133,353

Nunavut

4% on the first $43,176 of taxable income, +
7% on the next $43,175, +
9% on the next $54,037, +
11.5% on the amount over $140,388

 

Quebec Income tax Rate 2016

Taxable Income ($)

 

Tax Rate

0 to 42,390

16%

42,390 to 84,780

20%

84,780 to 103,150

24%

More than 103,150

25.75%

 

Personal Income Tax Rate 2015

Chargeable Income (CAD$)

 

Tax Rate

0 to 44,701

15%

44,701 to 89,401

22%

89,401 to 138,586

26%

Above 138,586

29%

 

Quebec Income tax Rate 2015

Taxable Income ($)

 

Tax Rate

0 to 41,395

16%

41,395 to 83,865

20%

83,865 to 102,040

24%

More than 102,040

25.75%

 

Canada Income Tax Rates 2014 and Deductions

Canada Income Tax Rate for Individual Tax Payers

Lowest Individual Tax Rate is 15% and Highest Rate is 29%

Chargeable Income (CAD$)

 

Tax Rate

0 to 43,953

15%

43,954 to 87,907

22%

87,908 to 136,270

26%

Above 136,270

29%

 

Note - The maximum tax is subject to the 15% standard rate for income without personal deductions and credits.

 

 

Corporate Tax Rates in Canada

The Canadian federal corporate tax in 2014 is 15%.
In the province of Ontario the corporate minimum tax regime applies.

Capital Gains Tax in Canada

Capital gains for companies and individuals are taxed at the general rates on 50% of the gain.

Tax Deductions at Source in Canada

Losses
A business loss can be carried forward for 20 years and back for three years.

Canada Depreciation
Fixed assets are generally depreciated on the declining balance method.
Rates are 10% for certain buildings, 30% for heavy construction equipment and 20% for cars and machinery.

Canada Transfer Pricing
Transfer between a non arm's length nonresident should be at the same price as when dealing with arm's length side. Companies must keep documents and file reports regarding such transactions.

Canada Thin Capitalization
Interest paid for a loan from a related nonresident to a Canadian company is deductible only if the loan to equity ratio does not exceed 1.5:1 ratio.

Canada Consolidated Returns
Consolidated returns are not allowed in Canada. Each company has to file separately.

 

Tax Rates in the World

Afghanistan Tax Rates

Albania Tax Rates

Algeria Tax Rates

Angola Tax Rates

Argentina Tax Rates

Australia Tax Rates

Austria Tax Rates

 

 

Bangladesh Tax Rates

Brazil Tax Rates

Canada Income tax Rate

Canada Personal Tax

China Tax Rates

Colombia Tax Rates

Congo Tax Rates

Cyprus Tax Rates

Czech Republic Tax Rates

Ethiopia Tax Rates

Egypt Tax Rates

France Tax Rates

Finland Tax Rates

Germany Tax Rates

Ghana Tax Rates

Hong Kong Tax Rates

Hungary Tax Rates

India Income tax Rate

India TDS Rate

Ireland Tax Rates

Israel Tax Rates

Italy Tax Rates

Japan Tax Rates

Jamaica Tax Rates

Jersey Tax Rates

Jordan Tax Rates

Kazakhstan Tax Rates

Kenya Tax Rates

 

 

Korea Tax Rates

Lithuania Tax Rates

Malaysia Tax Rates

Malta Tax Rates

Mauritius Tax Rates

Mexico Tax Rates

Morocco Tax Rates

Myanmar (Burma) Taxes

Nepal Tax Rates

New Zealand Tax Rates

Netherlands Tax Rates

Nigeria Tax Rates

Pakistan Tax Rates

Panama Tax Rates

Philippines Tax Rates

Poland Tax Rates

Portugal Tax Rates

Romania Tax Rates

Income Tax Rate

Singapore Personal Tax

Serbia Tax Rates

Slovakia Tax Rates

Slovenia Tax Rates

South Africa Tax Rates

Spain Tax Rates

Sri Lanka Tax Rates

Sweden Tax Rates

Switzerland Tax Rates

Tanzania Tax Rates

 

 

Thailand Tax Rates

Turkey Tax Rates

Uganda Tax Rates

Ukraine Tax Rates

UK Tax Rates

UK Corporate Tax Rates

Tax Allowances in UK

USA Income Tax Rate

USA Standard Deduction

Vietnam Tax Rates

Zimbabwe Tax Rates

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