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Tax Rates -> CurrentMarginal Tax Rates -> Ontario Personal Income Tax Rates
The Ontario tax brackets and personal tax credit amounts are increased for2024 by anindexation factor of 1.045 (4.5% increase), except for the $150,000 and $220,000 bracketamounts, which are not indexed for inflation.
The Federal tax brackets and personal tax credit amounts are increased for 2024 by an indexation factor of1.047 (4.7% increase).
See Indexationof the Personal Income Tax System for how the indexation factors arecalculated.
The indexation factors, tax brackets and tax rates for 2024 have been confirmed to Canada Revenue Agencyinformation.
Tax Tip: read the article Understanding the Tables of Personal Income Tax Rates,especially if you are trying to compare the rates below to the marginal taxrates in the Basic Tax Calculator or the Detailed Tax Calculators.
| TaxTips.ca - Ontario Tax Rates | |||||||||
| 2024 Taxable Income | 2024 Tax Rates | 2023 Taxable Income | 2023 Tax Rates | ||||||
| first $51,446 | 5.05% | first $49,231 | 5.05% | ||||||
| over $51,446 up to $102,894 | 9.15% | over $49,231 up to $98,463 | 9.15% | ||||||
| over $102,894 up to $150,000 | 11.16% | over $98,463 up to $150,000 | 11.16% | ||||||
| over $150,000 up to $220,000 | 12.16% | over $150,000 up to $220,000 | 12.16% | ||||||
| over $220,000 | 13.16% | over $220,000 | 13.16% | ||||||
| TaxTips.ca - Combined Federal & Ontario Tax Brackets and Tax Rates Including Surtaxes | |||||||||
| 2024 Taxable Income (1) | ON 2024 Marginal Tax Rates | 2023 Taxable Income (1) | ON 2023 Marginal Tax Rates | ||||||
| Other Income | Capital Gains | Canadian Dividends | Other Income | Capital Gains | Canadian Dividends | ||||
| Eligible | Non-Eligible | Eligible | Non-Eligible | ||||||
| first $51,446 | 20.05% | 10.03% | -6.86% | 9.24% | first $49,231 | 20.05% | 10.03% | -6.86% | 9.24% |
| over $51,446 up to $55,867 | 24.15% | 12.08% | -1.20% | 13.95% | over $49,231 up to $53,359 | 24.15% | 12.08% | -1.20% | 13.95% |
| over $55,867 up to $90,599 | 29.65% | 14.83% | 6.39% | 20.28% | over $53,359 up to $86,698 | 29.65% | 14.83% | 6.39% | 20.28% |
| over $90,599 up to $102,894 | 31.48% | 15.74% | 8.92% | 22.38% | over $86,698 up to $98,463 | 31.48% | 15.74% | 8.92% | 22.38% |
| over $102,894 up to $106,732 | 33.89% | 16.95% | 12.24% | 25.16% | over $98,463 up to $102,135 | 33.89% | 16.95% | 12.24% | 25.16% |
| over $106,732 up to $111,733 | 37.91% | 18.95% | 17.79% | 29.78% | over $102,135 up to $106,717 | 37.91% | 18.95% | 17.79% | 29.78% |
| over $111,733 up to $150,000 | 43.41% | 21.70% | 25.38% | 36.10% | over $106,717 up to $150,000 | 43.41% | 21.70% | 25.38% | 36.10% |
| over $150,000 up to $173,205 | 44.97% | 22.48% | 27.53% | 37.90% | over $150,000 up to $165,430 | 44.97% | 22.48% | 27.53% | 37.90% |
| over $173,205 up to $220,000 | 48.29% | 24.14% | 32.11% | 41.72% | over $165,430 up to $220,000 | 48.29% | 24.14% | 32.11% | 41.72% |
| over $220,000 up to $246,752 | 49.85% | 24.92% | 34.26% | 43.51% | over $220,000 up to $235,675 | 49.85% | 24.92% | 34.26% | 43.51% |
| over $246,752 | 53.53% | 26.76% | 39.34% | 47.74% | over $235,675 | 53.53% | 26.76% | 39.34% | 47.74% |
| Marginal tax rate for dividends is a % of actual dividends received (not grossed-up taxable amount). Marginal tax rate for capital gains is a % of total capital gains (not taxable capital gains). Gross-up rate for eligible dividends is 38%, and for non-eligible dividends is 15%. The surtax is calculated before deducting dividend tax credits. For more information see Ontario dividend tax credits. Marginal tax rates do not include the Ontario Health Premium, which increases the above marginal tax rates by up to 25%. Copyright © 2002 Boat Harbour Investments Ltd. | |||||||||
| TaxTips.ca Ontario Surtaxes | |||||||||
| 2024 | 2023 | ||||||||
| Surtax rate (included in above rates) | 20% | 36% | Surtax rate (included in above rates) | 20% | 36% | ||||
| Surtax is on ON tax greater than | $5,554 | $7,108 | Surtax is on ON tax greater than | $5,315 | $6,802 | ||||
| Person with only basic personal amount - surtax starts at taxable income of | $90,599 | $106,732 | Person with only basic personal amount - surtax starts at taxable income of | $86,698 | $102,135 | ||||
| The 36% surtax is in addition to the 20% surtax, for a total surtax of 56%. The surtax increases the 13.16% tax rate to 20.53% (13.16% x 1.56). Surtaxes are calculated before deducting dividend tax credits. | |||||||||
| TaxTips.ca Ontario Basic Personal Amount | |||||||||
| 2024 Personal Amount | 2024 Tax Rate | 2023 Personal Amount | 2023 Tax Rate | ||||||
| $12,399 | 5.05% | $11,865 | 5.05% | ||||||
| Federal Basic Personal Amount | |||||||||
| 2024 Personal Amount (1) Minimum / Maximum | 2024 Tax Rate | 2023 Personal Amount (1) Minimum / Maximum | 2023 Tax Rate | ||||||
| $14,156 | $15,705 | 15% | $13,521 | $15,000 | 15% | ||||
(1) See the federaltax rates page for information on the enhanced federalpersonal amount, which increases the marginal tax rates for taxable incomes inthe second highest federal tax bracket. Themarginal tax rates in blue above have been adjusted to reflect these changes. Copyright © 2002 Boat Harbour Investments Ltd. Revised: November 20, 2023
