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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%
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