|
2009 Personal Income Tax Calculator | Tax Deadline 2009
|
2009 Income Tax Rates Canada |
Federal Income Tax Rates for 2009:
- 15% on the first $38,832 of taxable income, +
- 22% on the next $38,832 of taxable income (on the portion of taxable income between $38,832 and $77,664), +
- 26% on the next $48,600 of taxable income (on the portion of taxable income between $77,664 and $126,264), +
- 29% of taxable income over $120,887.
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.
| Use this column if your taxable income is $38,832 or less | Use this column if your taxable income is more than $38,832, but not more than $77,664 | Use this column if your taxable income is more than $77,664, but not more than $126,264 | Use this column if your taxable income is more than $126,264 | ||
| Enter your taxable income from line 260 of your return |
1 |
||||
| Base amount | − 0 | − 38,832 | − 77,664 | − 126,264 |
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 | + 5,825 | + 14,368 | + 27,004 |
6 |
| Add lines 5 and 6 | = | = | = | = |
7 |
Provincial Income Tax Rates for 2009:
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 2009 tax package.
|