2024 Income Tax Brackets Ontario. For an explanation of these rates and credits, refer to the federal and provincial personal income tax return. Previous year income tax rates.
0.00% 7.50% 12.55% 10.03% 12.08% 14.83% 15.74% 16.95% 18.95% 21.70% 22.48% 24.14% 24.92% 26.76%. The basic personal amount before any personal tax applies has been increased to $15,705 for those earning $173,205 (29% tax bracket), up.
The Indexation Increase For 2024 Is 4.7 Per Cent, According To The Canada Revenue Agency (Cra).
The ontario tax brackets and personal tax credit amounts are increased for 2024 by an indexation factor of 1.045 (4.5% increase), except for the $150,000 and $220,000 bracket amounts, which are not.
There Are 5 Ontario Income Tax Brackets And 5 Corresponding Tax Rates.
For an explanation of these rates and credits, refer to the federal and provincial personal income tax return.
The Annual Salary Calculator Is Updated With The Latest Income Tax Rates In Ontario For 2024 And Is A Great Calculator For Working Out Your Income Tax And Salary After Tax Based On A.