Individual Income Tax Rates - 2023

Tax Brackets

 

Surtax

Surtax

From

To

Tax Rates

Threshold

Rate

Federal
$ 13,522
$ 53,359
15.0%
(note 1)
$ 53,360
$ 106,717
20.5%
$ 106,718
$ 165,430
26.0%
$ 165,431
$ 235,675
29.0%
$ 235,676
33.0%
 
Ontario
$ 11,865
$ 49,231
5.05%
$ 49,232
$ 98,463
9.15%
$ 5,315
20.0%
$ 98,464
$ 150,000
11.16%
$ 6,802
36.0%
$ 150,001
$ 220,000
12.16%
$ 220,001
13.16%
Note 1:The Ontario surtax rate applies to Ontario tax exeeding the threshold amount.

 

Combined Federal and Ontario Top
Marginal Tax Rates for Individuals

Interest and Regular Income
Capital Gains
Eligible Dividends
Non-Eligible Dividends
53.53%
26.77%
39.34%
47.74%

 

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