Ontario

Tax Brackets 2020

This document is up to date as of September 3, 2020 and reflects the status of legislation, including proposed amendments at this date.

FEDERAL – 2020
$48,535 or less 15 %
$48,536 – $97,069 $7,280 + 20.5% on next $48,534
$97,070 – $150,473 $17,230 + 26% on next $53,404
$150,474 – $214,368 $31,115 + 29% on next $63,895
$214,369 and over $49,644 + 33% on excess
  • 15% rate used for AMT.
  • Indexation rate of 1.9% for 2020.
ONTARIO – 2020
$44,740 or less 5,05 %
$44,741 – $89,482  $2,259 + 9.15 % on next $44,742
$89,483 – $150,0001  $6,353 + 11.16 % on next $60,518
$150,001 – $220,0001  $13,107 + 12.16 % on next $70,000
$220,001 and over  $21,619 + 13.16 % on excess
  • AMT of 33.67% of federal AMT.
  • 20% surtax on tax over $4,830 and additional surtax of 36% on tax over $6,182.
  • Indexation rate of 1.9% for 2020.
TAX CREDIT FOR DIVIDENDS FROM CANADIAN CORPORATIONS – 20202
Eligible Dividends3 Ordinary Dividends4
Federal 15,02% 9,03%
Ontario 10,00% 2,9863%5

1 The $150,000 and $220,000 brackets are not indexed annually.
2 Rates applicable to grossed-up dividends.
3 38% gross-up.
4 15% gross-up.
5 Since January 1, 2020 (3.2863% in 2019).
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