These updated Marginal Tax Rates guides outline marginal tax rates with all federal and provincial taxes, surtaxes and the basic personal tax credit into account.
These updated Marginal Tax Rates guides outline marginal tax rates with all federal and provincial taxes, surtaxes and the basic personal tax credit into account.
Each guide notes marginal rates, weighted averages and simple averages.
Depending on where you lived in Canada on December 31 of the tax year ,will determine which provincial Marginal Tax Rates Guide is has the relevant information.
Tax brackets are based on the net income after claiming all eligible credits and deductions. The marginal tax rate is the combined federal and provincial rate at which an additional dollar of taxable income would be taxed. It is part of a graduated tax system which applies different tax rates to different levels of income. You can find rates from previous years on the Canada Revenue site.
Tax planning is an essential part of an individual holistic financial plan. Companion calculators include:
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