Income Tax Rates

Tax break

For the 2017 taxation year onward, the income tax rate for individuals has been dropped from 16% to 15% for the first bracket of taxable income. You will be taxed at this new lower rate when you file your income tax return for 2017.

Income tax rates for 2017

The income tax rates for the 2017 taxation year, determined on the basis of your taxable income, are as follows:

Taxable income Rate
$42,705 or less 15%
More than $42,705, but not more than $85,405 20%
More than $85,405, but not more than $103,915 24%
More than $103,915 25.75%
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