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Provincial Tax

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Note: this table is updated yearly according to the Canadian Revenue Agency (CRA). You can find the most updated information on the CRA website.

 

Once you have calculated your Federal Tax, you also have to calculate your provincial tax. Both taxes are added up to complete your Canadian income tax. You will notice by looking at the chart below that the tax rate and brackets vary greatly. Therefore, the Tax Free Savings Account may seem more advantageous in some province than others ;-) . Overall, investing tax free is definitely something you should consider as a Canadian.

 

2012 Provincial Tax

 

Province / Territory Tax Rate
Newfoundland and Labrador 7.7% on the first $32,893 of taxable income, +
12.5% on the next $32,892, +
13.3% on the amount over $65,785
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 9.1% on the first $38,190 of taxable income, +
12.1% on the next $38,190, +
12.4% on the next $47,798, +
14.3% on the amount over $124,178
Quebec 16% on the first $40,100 of taxable income, +
20% on the next $40,100, +
24% on the amount over $80,200
Ontario 5.05% on the first $39,020 of taxable income, +
9.15% on the next $39,023, +
11.16% on the amount over $78,043
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 $42,065 of taxable income, +
13% on the next $78,120, +
15% on the amount over $120,185
Alberta 10% of taxable income
British Columbia 5.06% on the first $37,013 of taxable income, +
7.7% on the next $37,015, +
10.5% on the next $10,965, +
12.29% on the next $18,212, +
14.7% on the amount over $103,205
Yukon 7.04% on the first $42,707 of taxable income, +
9.68% on the next $42,707, +
11.44% on the next $46,992, +
12.76% on the amount over $132,406
Northwest Territories 5.9% on the first $38,679 of taxable income, +
8.6% on the next $38,681, +
12.2% on the next $48,411, +
14.05% on the amount over $125,771
Nunavut 4% on the first $40,721 of taxable income, +
7% on the next $40,721, +
9% on the next $50,964, +
11.5% on the amount over $132,406

 


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