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How much income tax do I have to pay?

The amount of income tax you pay depends on how much money you earned in the past year minus any deductions and credits.

Your income tax rate is based on a combination of federal and provincial tax rates.

Most 2014 tax returns have to be filed by April 30, 2015. See 2014 tax rates.

Federal tax rates for the 2014 tax year

  • 15% on taxable income up to C$43,953
  • 22% on taxable income between C$43,954 and C$87,907
  • 26% on taxable income between C$87,907 and C$136,270
  • 29% on taxable income over C$136,270

Ontario (provincial) tax rates for the 2014 tax year

  • 5.05% on taxable income up to C$40,120
  • 9.15% on taxable income between $40,122 and $69,758
  • 11.16% on taxable income between $69,758 and $70,000
  • 12.16% on taxable income between $70,000 and $220,000
  • 13.16% on taxable income over $220,000

FindĀ a list of federal and provincial tax rates for 2014 and for previous years.

Taxable income includes employment income, rental income and money you receive through some government programs.

Tax credits and deductions reduce the amount of tax you must pay. If you paid too much tax, you will get a refund. If you did not pay enough, you must pay the difference to the government. Find out more in What happens after I file my tax return?

Canadian residency for tax purposes is not the same as residency for immigration purposes. Find out more in Do I have to file a tax return?

For More Information

  • Newcomers to Canada - This guide is for first time tax filers in Canada. It will help you determine if you are a resident for tax purposes, which is not the same as residency for immigration purposes. From the CRA.
  • Canada Revenue Agency (CRA) - The federal agency responsible for administering tax, benefits and related programs across the country. Their website provides detailed information about tax-related issues.
  • Frequently Asked Questions about Individual Taxation - Information and answers about tax rates and how to file your return. From the CRA.
  • General Income Tax and Benefit Package - A collection of forms and information sheets which you need to file your income tax return. From the CRA.
Last Updated: September 4, 2014
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