Provincial and Federal Taxation Rates in Canada

When returning to Canada I would like to know what taxation rates await me. Today I did some research online to see how much or how little my pay check would be based on provincial and federal tax rates. Here is some information that states the grim news. Alberta and Ontario have the lowest rates, followed by B.C.  Quebec and Newfoundland have the highest provincial tax rates.

According to the Canada Revenue Agency federal tax rates in 2007 are such:

  • 15.5% 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 takes rates vary from province to territory. To see provincial income tax rates please click this link.


5 Responses to “Provincial and Federal Taxation Rates in Canada”

  1. September 26, 2007 at 1:39 pm

    Yes, I’m being sucked dry. Combined with the housing prices in Victoria, I have enough left over every year to purchase a small, dry biscuit, which I am putting away for my retirement.

  2. 2 keithlj
    April 11, 2009 at 4:57 pm

    Just keep in mind that the Revenue Canada tax rates and the provincial tax rate are tide together. The deminimus differences between the provinces do not compare to the differences in the tax rate differences between the different states. A difference between 48 and 52% additional tax from the federal amounts does not compare between the differences between Illinois of around 3% for everyone and the tax rates in California of 3 to 11%.

    Then again a 50% Provincial rate does not compare with an 11% rate. With a 29% plus 50% of that you will get 43.5%. With a U.S. of 35% plus 11% you will get a 46%. Your individual income tax bracket at the lower end in the United States could be lower whereas in Canada this amount could be higher.

    But the real strategy is to fix your investment and other credit incentive strategy to your tax home country and adjust your assets accordingly.

  3. April 13, 2009 at 1:52 am

    Now that is some good advice!

  4. April 13, 2009 at 2:41 am

    I am thinking about Hong Kong which has high salaries and a taxation rate at around 15%.

  5. November 22, 2009 at 11:49 pm

    I’ve been included in taxes for longer then I care to acknowledge, both on the individualized side (all my employed life story!!) and from a legal standpoint since passing the bar and following tax law. I’ve rendered a lot of advice and redressed a lot of wrongs, and I must say that what you’ve put up makes complete sense. Please uphold the good work – the more individuals know the better they’ll be outfitted to handle with the tax man, and that’s what it’s all about.

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