Marginal Tax Rates

2021 Marginal Personal Income Tax Rates

Taxable Income Federal Ontario Total
0 – $10,880 0.00% 0.00% 0.00%
$10,881 – $13,808 0.00% 5.05% 5.05%
$13,809 – $45,142 15.00% 5.05% 20.05%
$45,143 – $49,020 15.00% 9.15% 24.15%
$49,021 – $90,287 20.50% 9.15% 29.65%
$90,288 – $98,040 20.50% 11.16% 31.66%
$98,041 – $151,978 26.00% 11.16% 37.16%
$151,979 – $150,000 29.00% 11.16% 40.16%
$150,001 – $216,511 29.00% 12.16% 41.16%
$216,512 – $220,000 33.00% 12.16% 45.16%
$220,001 and above 33.00% 13.16% 46.16%

Note: Above rates do not include Ontario Surtax.


 

Corporation Income Tax Rates for Canadian Controlled Private Corporations

effective January 1, 2021 (rates are unchanged from prior year)

Federal Part I (Active Business Income up to $500,000) 9.00%
Ontario (Active Business Income up to $500,000) 3.20%
Total: 12.20%