Provincial marginal tax rate: 17.40% (for tax bracket $74,416 and over)Ĭombined provincial and federal taxes: $12,173 + $15,579 = $27,752.Marginal Tax Rate Example (Manitoba)įor a $100,000 taxable income in Manitoba in 2022, the following apply: Your average tax rate is based on the tiered bracket rates for both provincial and federal income taxes. This means you pay 43.40 cents in taxes on every extra dollar you earn at this income level.īefore you lose your hat and go bonkers, your “effective” or “average” tax rate will actually be much lower, and for the example above, it is a much more palatable 28.77%. Your marginal tax rate is the highest rate of tax (federal and/or provincial) that you pay on an additional dollar of income.įor example, if your taxable income is $100,000 and you reside in Manitoba, your combined marginal tax rate is a whopping 43.40%. Nunavut also utilizes an indexation factor of 1.0. Yukon’s indexation factor for 2022 is 1.063. Quebec’s indexation factor for 2023 is 1.0644. Quebec Tax Brackets 2022-2023 QC Tax Bracket 2023 PEI’s tax brackets were not indexed for inflation in 2023, leaving the amounts the same as for the 2022 tax year.

PEI also levies a surtax of 10% on provincial income tax exceeding $12,500. Prince Edward Island Tax Brackets 2022-2023 PEI Tax Bracket 2023 NL’s indexation factor for 2023 is 1.059. Newfoundland and Labrador Tax Brackets 2022-2023 NL Tax Bracket 2023 Nova Scotia’s tax brackets are not indexed for inflation in 2023 and remain the same as for the 2023 tax year. Nova Scotia Tax Brackets 2022-2023 NS Tax Brackets 2023 New Brunswick has an indexation factor of 1.0. New Brunswick Tax Brackets 2022-2023 NB Tax Brackets 2023 Saskatchewan has an indexation factor of 1.0. Saskatchewan Tax Bracket 2022-2023 SK Tax Bracket 2023 Manitoba’s indexation factor for tax brackets is 1.0. Manitoba Tax Brackets 2022-2023 MB Tax Bracket 2023 The indexation factor used to compute B.C.’s tax brackets is 1.0 and 1.0.

British Columbia Tax Brackets 2022-2023 B.C. Alberta Tax Brackets 2022-2023 AB Tax Bracket 2023Īlberta’s tax brackets were indexed using a factor of 1.060 in 2023. Ontario has a surtax that is further levied on your provincial income tax, subject to certain thresholds. The indexation factor in use in Ontario is 1.0 and 1.065 in 2023 (except for the last two income bracket rates, which are not indexed). Ontario Tax Brackets 2022-2023 ON Tax Bracket 2023 The provincial tax rates and brackets for 20 are below. Quebec collects its provincial income taxes directly via Agence du Revenu du Quebec. The different provinces and territories in Canada also collect income taxes that are payable along with your federal return.

The federal income tax rates and brackets for 20 are: Tax Bracket 2023 The federal personal income tax rates and brackets refer to taxes payable on your taxable income, which is your gross income minus deductions, tax credits, and other adjustments. TurboTax 2022-2023 Federal Tax Bracket Rates

Income tax brackets 2021 federal