Canadian Tax Brackets 2014 – Canada Federal Personal Income Tax Brackets Below (Provincial Income Tax Rates are not included):
- 15% on the first $43,953 of taxable income
- 22% on the next $43,954 of taxable income (on the portion of taxable income between $43,954 and $87,907)
- 26%on the next $48,363 of taxable income (on the portion of taxable income between $87,908 and $136,270)
- 29% of taxable income over $136,270
Canadian Tax Brackets 2014 by Province – The Combined Provincial and Federal Income Tax Brackets Below:
Please note that income tax rates are subject to change in accordance with federal and provincial budgets.
Canadian personal income taxcan 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.