Income Tax Rates
Income tax rates for 2020
The income tax rates for the 2020 taxation year, determined on the basis of your taxable income, are as follows:
Taxable income | Rate |
---|---|
$44,545 or less | 15% |
More than $44,545 but not more than $89,080 | 20% |
More than $89,080 but not more than $108,390 | 24% |
More than $108,390 | 25.75% |
Income tax rates for 2021
The income tax rates for the 2021 taxation year, determined on the basis of your taxable income, are as follows:
Taxable income | Rate |
---|---|
$45,105 or less | 15% |
More than $45,105 but not more than $90,200 | 20% |
More than $90,200 but not more than $109,755 | 24% |
More than $109,755 | 25.75% |