Income Tax Rates
Income tax rates for 2025
The income tax rates for the 2025 taxation year, determined on the basis of your taxable income, are as follows:
| Taxable income | Rate |
|---|---|
| $53,255 or less | 14% |
| More than $53,255 but not more than $106,495 | 19% |
| More than $106,495 but not more than $129,590 | 24% |
| More than $129,590 | 25.75% |
Income tax rates for 2024
The income tax rates for the 2024 taxation year, determined on the basis of your taxable income, are as follows:
| Taxable income | Rate |
|---|---|
| $51,780 or less | 14% |
| More than $51,780 but not more than $103,545 | 19% |
| More than $103,545 but not more than $126,000 | 24% |
| More than $126,000 | 25.75% |