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 |