Ontario

Marginal Rates 2023

This document is up to date as of August 31, 2023 and reflects the status of legislation, including proposed amendments at this date.

For rates in 2024, consult this pdf.

Tax Brackets Other Income Capital Gain Dividends1
Eligible2 Ordinary3
% % % %
ONTARIO
$15,000 – $49,231 20.05 10.03 0.00 9.24
$49,232 – $53,359 24.15 12.08 0.00 13.95
$53,360 – $86,696 29.65 14.83 6.39 20.28
$86,697 – $98,463 31.48 15.74 8.92 22.38
$98,464 – $102,139 33.89 16.95 12.24 25.16
$102,140 – $106,717 37.91 18.95 17.79 29.78
$106,718 – $150,000 43.41 21.70 25.38 36.10
$150,001 – $165,430 44.97 22.48 27.53 37.90
$165,431 – $220,000 48.29 24.14 32.11 41.71
$220,001 – $235,675 49.85 24.92 34.26 43.50
$235,676 and over 53.53 26.76 39.34 47.74
ALL PROVINCES
Federal
For all provinces, except Quebec 33.00 16.50 24.81 27.57
Quebec only 27.56 13.78 20.72 23.02
Provincial4
Alberta 48.00 24.00 34.31 42.30
British Columbia 53.50 26.75 36.54 48.89
Manitoba 50.40 25.20 37.78 46.67
New Brunswick 52.50 26.25 32.40 46.83
Newfoundland and Labrador 54.80 27.40 46.20 48.96
Northwest Territories 47.05 23.53 28.33 36.82
Nova Scotia 54.00 27.00 41.58 48.27
Nunavut 44.50 22.25 33.08 37.79
Ontario 53.53 26.76 39.34 47.74
Prince Edward Island 51.37 25.69 34.22 47.04
Quebec 53.31 26.65 40.11 48.70
Saskatchewan 47.50 23.75 29.64 41.82
Yukon 48.00 24.00 28.93 44.04

1 Rates applicable to actual dividends received (not grossed-up).
2 38% gross-up.
3 15% gross-up.
4 Combined rates, federal and provincial.
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