Tax Brackets in Canada
Canada's federal government has the following tax brackets for the 2012 tax year (all in Canadian dollars). Note that the "basic personal amount" of $10,527 effectively means that income up to this amount is not subject to tax, although it is included in the calculation of taxable income.
| Taxable income | Tax on this income |
|---|---|
| $0–$10,527 | Nil |
| $10,528–$42,707 | 15% |
| $42,708–$85,414 | 22% |
| $85,414–$132,406 | 26% |
| Over $132,406 | 29% |
Each province adds their own tax on top of the federal tax.
Provincial / Territorial Tax Rates for 2012:
Read more about this topic: Tax Bracket
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