2024 Tax Brackets Canada 2024. For 2024, there are adjustments to the federal tax brackets in canada. You should calculate your federal income tax first and your provincial or territorial rate second.
15% on the portion of taxable income that is $55,867 or less 20.5% on the portion of taxable income over $55,867 and up to $111,733 Add the two together and, bam, you’ve got your “marginal tax rate,” the combined federal and provincial/territorial income taxes you pay on all sources of income at tax time.