Personal Tax Rates

 

2019Employment / other incomeEligible dividendsOther than eligible dividendsCapital gainsHighest Tax Bracket
Federal Only33.00%24.81%27.57%16.50%210,371
Combined Federal & Provincial Rates:     
Alberta48.00%31.71%42.30%24.00%314,928
British Columbia49.80%31.44%44.64%24.90%210,371
Saskatchewan47.50%37.78%46.67%23.75%210,371
Manitoba50.40%37.78%46.67%25.20%210,371
Ontario53.53%39.34%47.40%25.20%220,000
Quebec53.31%39.34%47.40%26.65%210,371
New Brunswick53.30%33.51%47.40%26.65%210,371
Nova Scotia54.00%41.58%48.27%27.00%210,371
Prince Edward Island51.37%35.67%45.54%25.69%210,371
Newfoundland and Labrador51.30%42.61%44.59%25.65%210,371
Northwest Territories47.05%28.33%36.82%23.53%210,371
Nunavut47.05%33.08%37.79%22.25%210,371
Yukon48.00%33.08%42.17%24.00%500,000
2020     
Federal Only33.00%24.81%27.57%16.50%214,368
Combined Federal & Provincial Rates:     
Alberta48.00%31.71%42.30%24.0%314,928
British Columbia53.50%36.54%48.89%26.75%220,000
Saskatchewan47.50%29.64%40.76%23.75%214,368
Manitoba50.40%37.78%46.67%25.20%214,368
Ontario53.53%39.34%47.74%26.76%220,000
Quebec53.31%36.69%45.43%26.65%214,368
New Brunswick53.30%33.51%47.75%26.65%214,368
Nova Scotia54.00%41.58%48.27%27.00%214,368
Prince Edward Island214,368214,36845.43%25.69%214,368
Newfoundland and Labrador51.30%42.61%44.59%25.65%214,368
Northwest Territories47.05%28.33%36.82%23.53%214,368
Nunavut44.50%33.08%37.79%37.79%214,368
Yukon48.00%48.00%42.17%24.00%500,000

 

 

TFSA Contribution Room History

 

Tax YearAnnual LimitCumulative Total
20095,0005,000
20105,000 10,000
20115,00015,000
20125,000 20,000
20135,000 25,500
20145,000 31,000
201510,00041,000
20165,50046,500
20175,50052,000
20185,50057,500
20196,00063,500
20206,00069,500

 

 

Lifetime Capital Gains Exemption

 

Tax YearQualified Small Business Corporation SharesQualified Farm or Fishing Property
2019866,9121,000,000
2020883,3831,000,000

 

 

RRSP Contribution Limits

 

Tax YearAnnual max deduction limit (1)Contribution deadline
201926,500March 2, 2020
202027,230March 1, 2021

(1) – Annual deduction limit is the lesser of 18% of earned income or the maximum deduction limit.
Unused deduction limit for a taxation year is carried over to the next.

 

 

 

Disclaimer:
The above tax rates are for informational purposes only. Caution must be exercised with respect to the use of the information due to possible misinterpretation or misapplication of the tax rates.