Ontario
Tax Brackets 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.
FEDERAL – 2023 | ||
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$53,359 or less | 15% | |
$53,360 – $106,717 | $8,004 + 20.5% on next $53,358 | |
$106,718 – $165,430 | $18,942 + 26% on next $58,713 | |
$165,431 – $235,675 | $34,208 + 29% on next $70,245 | |
$235,676 and over | $54,579 + 33% on excess | |
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ONTARIO – 2023 | ||
$49,231 or less | 5.05% | |
$49,232 – $98,463 | $2,486 + 9.15% on next $49,232 | |
$98,464 – $150,0002 | $6,991 + 11.16% on next $51,537 | |
$150,001 – $220,0001 | $12,742 + 12.16% on next $70,000 | |
$220,001 and over | $21,254 + 13.16% on excess | |
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TAX CREDIT FOR DIVIDENDS FROM CANADIAN CORPORATIONS – 20233 | ||
Eligible Dividends4 | Ordinary Dividends5 | |
Federal | 15.02% | 9.03% |
Ontario | 10.00% | 2.9863% |
1 20.5% as of 2024. The income on which the AMT applies (AMT base) will be revised as of this date. 2 The $150,000 and $220,000 brackets are not indexed annually. 3 Rates applicable to grossed-up dividends. 4 38% gross-up. 4 15% gross-up.
This document is up to date as of August 31, 2023 and reflects the status of legislation, including proposed amendments at this date.
Tax Brackets 2023
Ontario