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The Ontario tax brackets and personal tax credit amounts are increased for 2025 by an indexation factor of 1.028 (2.8% increase), except for the $150,000 and $220,000 bracket amounts, which are not indexed for inflation.
Information on income tax rates in Canada including federal rates and those rates specific to provinces and territories.
In Ontario, tax brackets are based on net income for income tax purposes. There are five tax brackets: First: $51,446 or less; Second: over $51,446 up to $102,894; Third: over $102,894 up to $150,000; Fourth: over $150,000 up to $220,000; Fifth: over $220,000; Each tax bracket has a different rate of tax associated with it.
Estimate your provincial taxes with our free Ontario income tax calculator. See your tax bracket, marginal and average tax rates, payroll tax deductions, tax refunds, and taxes owed.
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 indexed for inflation.
Federal maximum, income < $173,205 Note: The 2024 tax figures represent proposed rates as of April 2024. Federal minimum, income > $246,752 All rates are subject to change pursuant to future legislative announcements.
Ontario indexes its tax brackets and surtax thresholds using the same formula as that used federally, but uses the provincial inflation rate rather than the federal rate in the calculation. The inflation factor for this province is 4.5% for 2024. Ontario surtax of 20% applies to the provincial income tax (before surtax) in excess of $5,554.
Federal and Provincial/Territorial Income Tax Rates and Brackets for 2024 Current as of September 30, 2024
2024 Personal tax calculator. Calculate your combined federal and provincial tax bill in each province and territory. The calculator reflects known rates as of June 1, 2024.
2023 Ontario provincial and federal income tax brackets. Here are the tax brackets for Ontario and Canada based on your taxable income.