Month: January 2024

Canadian Income Tax Rates for 2024

Excerpt from CRA Website

Federal income tax rates for 2024

Tax rateTaxable income threshold
15%on the portion of taxable income that is $55,867 or less, plus
20.5%on the portion of taxable income over $55,867 up to $111,733, plus
26%on the portion of taxable income over $111,733 up to $173,205, plus
29%on the portion of taxable income over $173,205 up to $246,752, plus
33%on the portion of taxable income over $246,752

See how amounts are adjusted for inflation.

2024 provincial and territorial income tax rates

Provincial and territorial tax rates vary across Canada; however, your provincial or territorial income tax (except Quebec) is calculated in the same way as your federal income tax.

Newfoundland and Labrador income tax rates for 2024
Tax rate Taxable income threshold
8.7% on the portion of taxable income that is $43,198 or less, plus
14.5% on the portion of taxable income over $43,198 up to $86,395, plus
15.8% on the portion of taxable income over $86,395 up to $154,244, plus
17.8% on the portion of taxable income over $154,244 up to $215,943, plus
19.8% on the portion of taxable income over $215,943 up to $275,870, plus
20.8% on the portion of taxable income over $275,870 up to $551,739, plus
21.3% on the portion of taxable income over $551,739 up to $1,103,478, plus
21.8% on the portion of taxable income over $1,103,478
Prince Edwards Island income tax rates for 2024
Tax rate Taxable income threshold
9.65% on the portion of taxable income that is $32,656 or less, plus
13.63% on the portion of taxable income over $32,656 up to $64,313, plus
16.65% on the portion of taxable income over $64,313 up to $105,000, plus
18.00% on the portion of taxable income over $105,000 up to $140,000, plus
18.75% on the portion of taxable income over $140,000
Nova Scotia income tax rates for 2024
Tax rate Taxable income threshold
8.79% on the portion of taxable income that is $29,590 or less, plus
14.95% on the portion of taxable income over $29,590 up to $59,180, plus
16.67% on the portion of taxable income over $59,180 up to $93,000, plus
17.5% on the portion of taxable income over $93,000 up to $150,000, plus
21% on the portion of taxable income over $150,000
New Brunswick income tax rates for 2024
Tax rate Taxable income threshold
9.4% on the portion of taxable income that is $49,958 or less, plus
14% on the portion of taxable income over $49,958 up to $99,916, plus
16% on the portion of taxable income over $99,916 up to $185,064, plus
19.5% on the portion of taxable income over $185,064
Quebec income tax rates for 2024
Ontario income tax rates for 2024
Tax rate Taxable income threshold
5.05% on the portion of taxable income that is $51,446 or less, plus
9.15% on the portion of taxable income over $51,446 up to $102,894, plus
11.16% on the portion of taxable income over $102,894 up to $150,000, plus
12.16% on the portion of taxable income over $150,000 up to $220,000, plus
13.16% on the portion of taxable income over $220,000
Manitoba income tax rates for 2024
Tax rate Taxable income threshold
10.8% on the portion of taxable income that is $47,000 or less, plus
12.75% on the portion of taxable income over $47,000 up to $100,000, plus
17.4% on the portion of taxable income over $100,000
Saskatchewan income tax rates for 2024
Tax rate Taxable income threshold
   
10.5% on the portion of taxable income that is $52,057 or less, plus
12.5% on the portion of taxable income over $52,057 up to $148,734, plus
14.5% on the portion of taxable income over $148,734
Alberta income tax rates for 2024
Tax rate Taxable income threshold
10% on the portion of taxable income that is $148,269 or less, plus
12% on the portion of taxable income over $148,269 up to $177,922, plus
13% on the portion of taxable income over $177,922 up to $237,230, plus
14% on the portion of taxable income over $237,230 up to $355,845, plus
15% on the portion of taxable income over $355,845
British Columbia income tax rates for 2024
Tax rate Taxable income threshold
5.06% on the portion of taxable income that is $47,937 or less, plus
7.7% on the portion of taxable income over $47,937 up to $95,875, plus
10.5% on the portion of taxable income over $95,875 up to $110,076, plus
12.29% on the portion of taxable income over $110,076 up to $133,664, plus
14.7% on the portion of taxable income over $133,664 up to $181,232, plus
16.8% on the portion of taxable income over $181,232 up to $252,752, plus
20.5% on the portion of taxable income over $252,752
Yukon income tax rates for 2024
Tax rate Taxable income threshold
6.4% on the portion of taxable income that is $55,867 or less, plus
9% on the portion of taxable income over $55,867 up to $111,733, plus
10.9% on the portion of taxable income over $111,733 up to $173,205, plus
12.8% on the portion of taxable income over $1173,205 up to $500,000, plus
15% on the portion of taxable income over $500,000
Northwest Territories income tax rates for 2024
Tax rate Taxable income threshold
5.9% on the portion of taxable income that is $50,597 or less, plus
8.6% on the portion of taxable income over $50,597 up to $101,198, plus
12.2% on the portion of taxable income over $101,198 up to $164,525, plus
14.05% on the portion of taxable income over $164,525
Nunavut income tax rates for 2024
Tax rate Taxable income threshold
4% on the portion of taxable income that is $53,268 or less, plus
7% on the portion of taxable income over $53,268 up to $106,537, plus
9% on the portion of taxable income over $106,537 up to $173,205, plus
11.5% on the portion of taxable income over $173,205

Canada Dental Benefit

Applications for the Canadian Dental Care Plan

You may be eligible to apply for the new Canadian Dental Care Plan. If you are over 70 years old, you may receive a letter by March 2024 with instructions on how to apply.

If you are between 65 and 69, you can apply online starting in May 2024. Adults with a valid Disability Tax Credit certificate and children under 18 can apply starting in June 2024.

The interim Canada Dental Benefit is intended to help lower dental costs for eligible families earning less than $90,000 per year. Parents and guardians may be eligible if they pay for dental care for a child under 12 years old who does not have access to a private dental insurance plan.

Dental costs fully paid by other programs

If an eligible child’s dental costs are fully paid for by another government program with no direct cost to you, those services do not qualify for this benefit. Check your child’s eligibility for other programs before you apply.

Depending on your adjusted family net income, a tax-free payment of $260, $390, or $650 is available for each eligible child. You can apply for a maximum of 2 payments per child.

Applications are open until June 30, 2024 for:

  • dental care received between July 1, 2023 and June 30, 2024
  • one additional payment if you meet the criteria

Benefit payments are administered by the Canada Revenue Agency (CRA).

To find out if you’re eligible or to apply visit the CRA Website.

2024 Benefit Payment Dates

Excerpt from CRA Website

If you receive federal benefits, including some provincial/territorial benefits, you will receive payment on these dates. If you set up direct deposit, payments will be deposited in your account on these dates.

Canada Pension Plan
Includes the Canada Pension Plan (CPP) retirement pension and disability, children’s and survivor benefits.
Old Age Security
Includes Old Age Security pension, Guaranteed Income Supplement, Allowance and Allowance for the Survivor.
GST/HST Credit
Includes related provincial and territorial programs.
January 29, 2024
February 27, 2024
March 26, 2024
April 26, 2024
May 29, 2024
June 26, 2024
July 29, 2024
August 28, 2024
September 25, 2024
October 29, 2024
November 27, 2024
December 20, 2024
January 29, 2024
February 27, 2024
March 26, 2024
April 26, 2024
May 29, 2024
June 26, 2024
July 29, 2024
August 28, 2024
September 25, 2024
October 29, 2024
November 27, 2024
December 20, 2024
January 5, 2024
April 5, 2024
July 5, 2024
October 4, 2024
Canada Child Benefit (CCB)
Includes related provincial and territorial programs.
Ontario Trillium Benefit (OTB)
Includes Ontario energy and property tax credit (OEPTC), Northern Ontario energy credit (NOEC) and Ontario sales tax credit (OSTC).
Canada Workers Benefit (CWB) – Advance Payment
January 19, 2024
February 20, 2024
March 20, 2024
April 19, 2024
May 17, 2024
June 20, 2024
July 19, 2024
August 20, 2024
September 20, 2024
October 18, 2024
November 20, 2024
December 13, 2024
January 10, 2024
February 9, 2024
March 8, 2024
April 10, 2024
May 10, 2024
June 10, 2024
July 10, 2024
August 9, 2024
September 10, 2024
October 10, 2024
November 8, 2024
December 10, 2024
January 12, 2024
July 12, 2024
October 11, 2024
Veteran Disability PensionClimate Action Incentive
Basic amount and rural supplement for residents of Alberta, Saskatchewan, Manitoba and Ontario.
January 30, 2024
February 28, 2024
March 27, 2024
April 29, 2024
May 30, 2024
June 27, 2024
July 30, 2024
August 29, 2024
September 26, 2024
October 30, 2024
November 28, 2024
December 23, 2024
January 15, 2024
April 15, 2024
July 15, 2024
October 15, 2024