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2008 Personal Income Tax Calculator | Tax Deadline 2008

2009 Personal Income Tax Rates | 2008 CPP & EI

2008 Income Tax Rates Canada

  • Federal tax rates for 2008
  • Provincial/territorial tax rates for 2008

  • 2008 Personal Income Tax Rates have changed effective January 01, 2008, as follows:

    Federal tax rates for 2008 are:

    • 15% on the first $37,885 of taxable income, +
    • 22% on the next $37,884 of taxable income (on the portion of taxable income between $37,885 and $75,769), +
    • 26% on the next $47,415 of taxable income (on the portion of taxable income between $75,769 and $123,184), +
    • 29% of taxable income over $123,184.

    The chart below reproduces the first calculation that has to be made on Page 2 of Schedule 1 of the tax package to calculate net federal tax. Page 1 is used to calculate federal non-refundable tax credits.

    Federal tax on taxable income manual calculation chart
      Use this column if your taxable income is $37,885 or less Use this column if your taxable income is more than $37,885, but not more than $75,769 Use this column if your taxable income is more than $75,769, but not more than $123,184 Use this column if your taxable income is more than $123,184  
    Enter your taxable income from line 260 of your return        

    1

    Base amount −        0 −     37,885 −    75,769 −  123,184

    2

    Line 1 minus line 2 (this amount cannot be negative) = = = =

    3

    Federal tax rate ×    15% ×      22% ×      26% ×      29%

    4

    Multiply the amount on line 3 by the tax rate on line 4 = = = =

    5

    Tax on the amount from line 2 +       0 +      5,683 +    14,017 +    25,854

    6

    Add lines 5 and 6 = = = =

    7


    Provincial/Territorial tax rates for 2008

    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 2008 tax package.

    Provincial / Territorial tax rates (combined chart)
    Provinces / Territories Rate(s)
    Newfoundland and Labrador 8.7% on the first $30,215 of taxable income, +
    13.8% on the next $30,215, +
    16.5% on the amount over $60,429
    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 $34,836 of taxable income, +
    15.48% on the next $34,836, +
    16.80% on the next $69,673, +
    17.95% on the amount over $113,273
    Ontario 6.05% on the first $36,020 of taxable income, +
    9.15% on the next $36,020, +
    11.16% on the amount over $72,041
    Manitoba 10.9% on the first $30,544 of taxable income, +
    12.75% on the next $30,544, +
    17.40% on the amount over $66,000
    Saskatchewan 11% on the first $39,135 of taxable income, +
    13% on the next $72,679, +
    15% on the amount over $111,814
    Alberta 10% of taxable income
    British Columbia 5.35% on the first $35,016 of taxable income, +
    8.15% on the next $35,016, +
    10.50% on the next $70,033, +
    12.29% on the next $80,406, +
    14.7% on the amount over $97,636
    Yukon 7.04% on the first $37,885 of taxable income, +
    9.68% on the next $37,885, +
    11.44% on the next $75,769 +
    12.76% on the amount over $123,184
    Northwest Territories 5.9% on the first $35,986 of taxable income, +
    8.6% on the next $35,986, +
    12.2% on the next $71,973 +
    14.05% on the amount over $117,011
    Nunavut 4% on the first $37,885 of taxable income, +
    7% on the next $37,885, +
    9% on the next $75,770, +
    11.5% on the amount over $123,184

    For more information, please contact KJ accounting at Tax@KJaccounting.ca.

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    The above information provided by Canada Revenue Agency.

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