Tax Brackets Canada
Canadian Tax Brackets 2024
Understand Canada's federal and provincial tax system with our comprehensive guide and calculator
Canadian Tax Calculator
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2024 Canadian Federal Tax Brackets
| Tax Rate | Taxable Income Range | Tax on Income |
|---|---|---|
| 15% | CAD $0 - $55,867 | 15% of taxable income |
| 20.5% | CAD $55,868 - $111,733 | CAD $8,380 + 20.5% of amount over CAD $55,867 |
| 26% | CAD $111,734 - $173,205 | CAD $19,843 + 26% of amount over CAD $111,733 |
| 29% | CAD $173,206 - $246,752 | CAD $35,826 + 29% of amount over CAD $173,205 |
| 33% | CAD $246,753+ | CAD $57,154 + 33% of amount over CAD $246,752 |
Canadian Tax System Overview
Progressive Tax System
Canada uses a progressive tax system where higher income levels are taxed at higher rates. This means you pay different tax rates on different portions of your income.
- Federal tax rates range from 15% to 33%
- Provincial tax rates vary by province
- Combined marginal rates can reach 53.5%
Key Deductions & Credits
- Basic Personal Amount: CAD $15,000 (2024)
- RRSP Contributions: Up to 18% of income
- CPP/EI Premiums: Mandatory contributions
- Charitable Donations: Tax credits available
- Medical Expenses: Qualifying expenses
Frequently Asked Questions
Common questions about Canada tax brackets and calculations