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FEDERAL AND ONTARIO TAX RATES FOR 2014

FEDERAL TAX RATES ON YOUR TAXABLE INCOME.
  • 15% on the first $43,953 of taxable income +
  • 22% on the next $43,954 of taxable income (over $43,953 up to $87,907), +
  • 26% on the next $48,363 of taxable income (over $87,907 up to $136,270), +
  • 29% of taxable income over $136,270.
TAX BRACKETS FOR ONTARIO:
  • 5.05% on the first $40,120 of taxable income, +
  • 9.15% on the next $40,122, +
  • 11.16% on the next $69,758, +
  • 12.16% on the next $70,000, +
  • 13.16% on the amount over $220,000.