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.