Federal Tax Brackets 2022

15% on the first $50,197 of taxable income, 20.5% on the next $50,195 of taxable income between $50,197 and $100,392 26% on the next $55,233 of taxable income between $100,392 and $155,625 29% on the next $66,083 of taxable income between 155,625 and $221,708) 33% of taxable income over $221,708

Federal Tax Brackets 2023

15% on the first $53,359 of taxable income. 20.5% on the next $53,358 (to $106,717) 26% on the next $58,713 (on the portion over $106,717 to $165,430). 29% on the next $70,244 (on the portion over $165,431 to $235,675). 33% of any taxable income over $235,676.

Federal Tax Brackets 2024

15% on the first $55,867 of taxable income, 20.5% on the next $55,865 of taxable income between $55,868 and $111,733 26% on the next $61,471 of taxable income between $111,734 and $173,205 29% on the next $73,546 of taxable income between $173,206 and $246,752 33% of any taxable income over $246,753

Income Tax Calculator

Use the calculator below to determine both your federal and provincial taxes owed. You can also compare the amount owed by Canadians living in other provinces with the same income level.

How do Tax Brackets work

The taxes owed is different depending on the province or territory you live in.

Federal taxes

Your federal taxes owed is the same no matter where you reside. The amount owed is dependent on your total taxable income. That is your total income minus any legitimate deductions that are available to you.

Once your total income is determined, your federal taxes can be determined by applying the appropriate tax bracket percentage to each amount.

For federal taxes, apply a tax rate of 14.5% on your first $57,375 of taxable income. The percentage then increases on anything over that amount.

Here’s a listing of the full federal tax bracket breakdown:

Federal Tax Brackets 2025

14.5% on the first $57,375 of taxable income,
20.5% on the next $57,374 of taxable income between $57,376 and $114,750
26% on the next $63,131 of taxable income between $114,751 and $177,882
29% on the next $75,531 of taxable income between $177,883 and $253,414
33% of any taxable income over $253,415

15% on the first $50,197 of taxable income,

20.5% on the next $50,195 of taxable income between $50,197 and $100,392

26% on the next $55,233 of taxable income between $100,392 and $155,625

29% on the next $66,083 of taxable income between 155,625 and $221,708)

33% of taxable income over $221,708

15% on the first $53,359 of taxable income.

20.5% on the next $53,358 (to $106,717)

26% on the next $58,713 (on the portion over $106,717 to $165,430).

29% on the next $70,244 (on the portion over $165,431 to $235,675).

33% of any taxable income over $235,676.

15% on the first $55,867 of taxable income,

20.5% on the next $55,865 of taxable income between $55,868 and $111,733

26% on the next $61,471 of taxable income between $111,734 and $173,205

29% on the next $73,546 of taxable income between $173,206 and $246,752

33% of any taxable income over $246,753

Example:

If your total taxable income came out to be exactly $125,000, your federal tax amount owed would be $22,745.79

14.5% * $57,375 = $8,319.38

20.5% * $114,750-$57,376 = $11,761.67

26% * $125000-$114,751 = $2,664.74

$8,319.38 + $11,761.67 + $2,664.74 = $22,745.79 (-2% from 2024)

Provincial taxes

Your provincial taxes are calculated the same way. However, each province sets there own tax bracket thresholds and percentages.

Provinces and Territories	Rates (2025)
Newfoundland and Labrador	8.7% on the portion of your taxable income that is $44,192 or less, + 14.5% on the portion of your taxable income between $44,193 and $88,382 + 15.8% on the portion of your taxable income between $88,383 and $157,792 + 17.8% on the portion of your taxable income between $157,793 and $220,910 + 19.8% on the portion of your taxable income between $220,911 and $282,214 + 20.8% on the portion of your taxable income between $282,215 and $564,429 + 21.3% on the portion of your taxable income between $564,430 and $1,128,858 + 21.8% on the portion of your taxable income that is more than $1,128,859
Prince Edward Island	9.5% on the portion of your taxable income that is $33,328 or less + 13.47% on the portion of your taxable income between $33,329 and $64,656 + 16.6% on the portion of your taxable income between $64,657 and $105,000 + 17.62% on the portion of your taxable income between $105,001 and $140,000 + 19% on the portion of your taxable income that is more than $140,001
Nova Scotia	8.79% on the portion of your taxable income that is $30,507 or less + 14.95% on the portion of your taxable income between $30,508 and $61,015 + 16.67% on the portion of your taxable income between $61,016 and $95,883 + 17.5% on the portion of your taxable income between $95,884 and $154,650 + 21% on the portion of your taxable income that is more than $154,651
New Brunswick	9.4% on the portion of your taxable income that is $51,306 or less + 14% on the portion of your taxable income between $51,307 and $102,614 + 16% on the portion of your taxable income between $102,615 and $190,060 + 19.5% on the portion of your taxable income that is more than $190,061
Quebec	14% on the portion of your taxable income that is $53,255 or less + 19% on the portion of your taxable income between $53,256 and $106,495 + 24% on the portion of your taxable income between $106,496 and $129,590 + 25.75% on the portion of your taxable income that is more than $129,591
Ontario	5.05% on the portion of your taxable income that is $52,886 or less + 9.15% on the portion of your taxable income between $52,887 and $105,775 + 11.16% on the portion of your taxable income between $105,776 and $150,000 + 12.16% on the portion of your taxable income between $150,001 and $220,000 + 13.16% on the portion of your taxable income that is more than $220,001
Manitoba	10.8% on the portion of your taxable income that is $47,564 or less + 12.75% on the portion of your taxable income between $47,565 and $101,200 + 17.4% on the portion of your taxable income that is more than $101,201
Saskatchewan	10.5% on the portion of your taxable income that is $53,463 or less + 12.5% on the portion of your taxable income between $53,464 and $152,750 + 14.5% on the portion of your taxable income that is more than $152,751
Alberta	8% on the portion of your taxable income that is $60,000 or less + 10% on the portion of your taxable income between $60,001 and $151,234 + 12% on the portion of your taxable income between $151,235 and $181,481 + 13% on the portion of your taxable income between $181,482 and $241,974 + 14% on the portion of your taxable income between $241,975 and $362,961 + 15% on the portion of your taxable income that is more than $362,962
British Columbia	5.06% on the portion of your taxable income that is $49,279 or less + 7.7% on the portion of your taxable income between $49,280 and $98,560 + 10.5% on the portion of your taxable income between $98,561 and $113,158 + 12.29% on the portion of your taxable income between $113,159 and $137,407 + 14.7% on the portion of your taxable income between $137,408 and $186,306 + 16.8% on the portion of your taxable income between $186,307 and $259,829 + 20.5% on the portion of your taxable income that is more than $259,830
Yukon	6.4% on the portion of your taxable income that is $57,375 or less + 9% on the portion of your taxable income between $57,376 and $114,750 + 10.9% on the portion of your taxable income between $114,751 and $177,882 + 12.8% on the portion of your taxable income between $177,883 and $500,000 + 15% on the portion of your taxable income that is more than $500,001
Northwest Territories	5.9% on the portion of your taxable income that is $51,964 or less + 8.6% on the portion of your taxable income between $51,965 and $103,930 + 12.2% on the portion of your taxable income between $103,931 and $168,967 + 14.05% on the portion of your taxable income that is more than $168,968
Nunavut	4% on the portion of your taxable income that is $54,707 or less + 7% on the portion of your taxable income between $54,708 and $109,413 + 9% on the portion of your taxable income between $109,414 and $177,881 + 11.5% on the portion of your taxable income that is more than $177,882

Source: Canada.ca & Revenuequebec.ca

What is your total credit card debt amount?

Provide a few details about yourself.

First Name

Last Name

Email Address

Phone Number

Postal Code

Voulez-vous parler en français?

¿Quieres hablar en español?

I consent to receive electronic messages via email and to my mobile device (including SMS and MMS – charges may apply depending on your carrier, not by us, messaging frequency varies; text HELP for help, text STOP to cancel) from Consolidated Credit regarding products and services (including tips, newsletter and promotions). See Privacy Policy and Terms of Use. You can withdraw your consent at any time.

##first_name##, here are your next steps...

Get a clear picture of your spending vs. your income. Begin your online budget and financial analysis now by clicking the button above.

Our experts are here to help you understand your options and reach your goals. After you complete the easy-to-use online budget, one of our trained counsellors will reach out to you and provide recommendations.

Everything shared is 100% confidential and secure.

I understand and agree that by choosing “Start your online budget now”, I am voluntarily providing certain personal financial information in order to educate myself as to my current financial position. I understand that this budget tool is educational in nature, and that none of the information received in the form of a budget constitutes financial advice, nor does it constitute a counselling session. I understand and agree that the budget depends on the information I input into the fields, and that Company does not represent or guarantee the accuracy of the budget. I understand that this tool may collect information and should I choose not to provide such information, I am not to proceed further. If I choose to abandon the tool midway through the process, I understand that the information will not be maintained and I would be required to start providing the information from the beginning. Company disclaims all warranties associated with the budget tool herein. I understand and agree that Company may use the contact information provided herein to contact me through various means of communications, including automated messages, and that I expressly consent to receive these messages.