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2007 Personal Income Tax Rates Canada

2007 Canadian Income Tax Rates | Personal Income Tax Rates Canada

Canadian personal income tax can be deferred in a Registered Retirement Savings Plan (RRSP) and tax sheltered savings accounts (which may include mutual funds and other financial instruments) that are intended to help individuals save for their retirement.

Federal Income Tax Rates for the Year 2007:
  • 15% on the first $37,178 of taxable income, +
  • 22% on the next $37,179 of taxable income (on the portion of taxable income between $37,178 and $74,357), +
  • 26% on the next $46,530 of taxable income (on the portion of taxable income between $74,358 and $120,887), +
  • 29% of taxable income over $120,887
Provincial Income Tax Rates for the Year 2007:

Under the current tax on income method, tax for all provinces (except Quebec) and territories is calculated the same way as federal tax.

Form 428 is used to calculate this provincial or territorial tax. Provincial or territorial specific non-refundable tax credits are also calculated on Form 428.

For complete details, see the Provincial or Territorial information and forms in your 2007 tax package.

Provincial / Territorial tax rates (combined chart)
Provinces / Territories Rate(s)
Newfoundland and Labrador 9.64% on the first $29,886 of taxable income, +
14.98% on the next $29,886, +
17.26% on the amount over $59,772
Prince Edward Island 9.8% on the first $31,369 of taxable income, +
13.8% on the next $31,370, +
16.7% on the amount over $62,739
Nova Scotia 8.79% on the first $29,590 of taxable income, +
14.95% on the next $29,590, +
16.67% on the next $33,820 +
17.5% on the amount over $93,000
New Brunswick 10.12% on the first $34,186 of taxable income, +
15.48% on the next $34,188, +
16.80% on the next $42,787, +
17.95% on the amount over $111,161
Ontario 6.05% on the first $35,488 of taxable income, +
9.15% on the next $35,488, +
11.16% on the amount over $70,976
Manitoba 10.9% on the first $30,544 of taxable income, +
13% on the next $34,456, +
17.4% on the amount over $65,000
Saskatchewan 11% on the first $$38,405 of taxable income, +
13% on the next $71,324, +
15% on the amount over $109,729
Alberta 10% of taxable income
British Columbia 5.7% on the first $34,397 of taxable income, +
8.65% on the next $34,397, +
11.1% on the next $10,190, +
13.0% on the next $16,925, +
14.7% on the amount over $95,909
Yukon 7.04% on the first $37,178 of taxable income, +
9.68% on the next $37,179, +
11.44% on the next $46,530, +
12.76% on the amount over $120,887
Northwest Territories 5.9% on the first $35,315 of taxable income, +
8.6% on the next $35,316, +
12.2% on the next $44,199, +
14.05% on the amount over $114,830
Nunavut 4% on the first $37,178 of taxable income, +
7% on the next $37,179, +
9% on the next $46,530, +
11.5% on the amount over $120,887