Income Tax Rates
Income tax rates for 2023
The income tax rates for the 2023 taxation year, determined on the basis of your taxable income, are as follows:
Taxable income | Rate |
---|---|
$49,275 or less | 14% |
More than $49,275 but not more than $98,540 | 19% |
More than $98,540 but not more than $119,910 | 24% |
More than $119,910 | 25.75% |
Income tax rates for 2022
The income tax rates for the 2022 taxation year, determined on the basis of your taxable income, are as follows:
Taxable income | Rate |
---|---|
$46,295 or less | 15% |
More than $46,295 but not more than $92,580 | 20% |
More than $92,580 but not more than $112,655 | 24% |
More than $112,655 | 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% |