The New 2018 Canada Income Tax Rates and Brackets

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The New 2018 Canada Income Tax Rates and Brackets

The Canadian taxes rates can be found below. Use these to see how much you may owe.

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How Do The Tax Brackets Work in Canada?

The basic personal amount is the income level below which no taxes are levied. Even for those who earn less than the personal amount, filing a tax return can mean benefits such as the GST/HST credit.

Average processing time for returns filed online is two weeks. Paper returns take four to six weeks, according to the CRA.

What Are The Canada Tax Brackets for 2018?

IncomeTax Rate
The first $46,605 15%
$46,605 to $93,20820.5%
$93,208 to $144,48926%
$144,489 to $205,84229%
over $205,84233%

What Are The Provincial/Territorial Tax Rates?

Each province and territory have its own tax rates.

What Are The Newfoundland and Labrador Tax Rates for 2018?

Income Tax Rate
$36,926 and below8.7%
$36,926 up to $73,85214.5%
$73,852 up to $131,85015.8%
$131,850 up to $184,59017.3%
Over $184,59018.3%

What Are The Prince Edward Island Tax Rates?

IncomeTax Rate
$31,9849.8%
$31,984 to $63,96913.8%
Amounts over $63,96916.7%

What Are The Nova Scotia Tax Rates?

IncomeTax Rate
$29,590 or less8.79%
$29,590 to $59,18014.95%
$59,180 to $93,00016.67%
$93,000 to $150,00017.5%
More than $150,00021%

What Are The New Brunswick Tax Rates?

IncomeTax Rate
Up to $41,6759.68%
Over $41,675 to $83,35114.82%
$83,351 up to $135,51016.52%
Over $135,510 to $154,38217.84%
Over $154,38220.3%

What Are The Ontario Tax Rates?

IncomeTax Rates
up to $42,9605.05%
$42,960 to $85,9239.15%
Over $85,923 to $150,00011.16%
Over $150,000 to $220,00012.16%
Over $220,000 13.16

What Are The Manitoba Tax Rates?

IncomeTax Rate
$31,84310.8%
Over $31,843 to $68,82112.75%
Over $68,82117.4%

What Are The Saskatchewan Tax Rates?

IncomeTax Rate
$45,22511%
$45,225 to $129,21412.75%
Over $129,21417.4%

What Are The Alberta Tax Rates?

IncomeTax Rates
Up to $128,14510%
$128,145 to $153,77312%
$153,773 to $205,03113%
$205,031 up to $307,54714%
Over $307,54715%

What Are The British Columbia Tax Rates?

IncomeTax Rates
$39,6765.06%
$39,676 to $79,3537.7%
$79,353 to $91,10710.5%
$91,107 to $110,63012.29%
Over $110,630 up to $150,00014.7%
Over $150,00016.8%

What Are The Yukon Tax Rates?

IncomeTax Rate
Up to $46,6056.4%
$46,605 up to $93,2089%
$93,208 to $144,48910.9%
$144,489 to $500,00012.8%
Over $500,00015%

What Are The Northwest Territories Tax Rates?

IncomeTax Rates
On the first $42,2095.9%
$42,209 to $84,4208.6%
$84,420 to $137,24812.2%
Over $137,24814.05%

What Are The Nunavut Tax Rates?

IncomeTax Rates
$44,4374%
$44,437 to $88,8747%
$88,874 to $144,4889%
Over $144,48811.5%

How To Lower Your Tax Bill With Deductions

The best way to reduce the amount of tax you have to pay is to maximize your deductions and tax credits. The CRA outlines some of the most-used deductions and credits.

By and large, if you’re self-employed, you can typically write off costs related to your business. This can include things like equipment but don’t forget about the value of things like your business kilometres.

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Rebecca Rustin

Rebecca is a Montreal freelance writer and translator specializing in the humanities and finance. An upcoming academic project will focus on performing arts in Quebec.

MileIQ’s blog does not constitute professional tax advice. You should contact your own tax professional to discuss your situation.

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