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New Brunswick 2024 and 2023 Tax Rates & Tax Brackets

New Brunswick Tax Rates
2024 Taxable Income	2024 Tax Rates	2023 Taxable Income	2023 Tax Rates
first $49,958	9.4%	first $47,715	9.4%
over $49,958 up to $99,916	14.0%	over $47,715 up to $95,431	14.0%
over $99,916 up to $185,064	16.0%	over $95,431 up to $176,756	16.0%
over $185,064	19.5%	over $176,756	19.5%

Combined Federal & New Brunswick Tax Brackets and Tax Rates
2024 Taxable Income	NB 2024 Marginal Tax Rates				2023 Taxable Income	NB 2023 Marginal Tax Rates
	Other Income	Capital Gains	Canadian Dividends			Other Income	Capital Gains	Canadian Dividends
	Other Income	Capital Gains	Eligible	Non-Eligible		Other Income	Capital Gains	Eligible	Non-Eligible
first $49,958	24.40%	12.20%	-6.38%	14.51%	first $47,715	24.40%	12.20%	-6.38%	14.51%
over $49,958 up to $55,867	29.00%	14.50%	-0.03%	19.80%	over $47,715 up to $53,359	29.00%	14.50%	-0.03%	19.80%
over $55,867 up to $99,916	34.50%	17.25%	7.56%	26.13%	over $53,359 up to $95,431	34.50%	17.25%	7.56%	26.13%
over $99,916 up to $111,733	36.50%	18.25%	10.32%	28.43%	over $95,431 up to $106,717	36.50%	18.25%	10.32%	28.43%
over $111,733 up to $173,205	42.00%	21.00%	17.91%	34.75%	over $106,717 up to $165,430	42.00%	21.00%	17.91%	34.75%
over $173,205 up to $185,064	45.32%	22.66%	22.49%	38.57%	over $165,430 up to $176,756	45.32%	22.66%	22.49%	38.57%
over $185,064 up to $246,752	48.82%	24.41%	27.32%	42.60%	over $176,756 up to $235,675	48.82%	24.41%	27.32%	42.60%
over $246,752	52.50%	26.25%	32.40%	46.83%	over $235,675	52.50%	26.25%	32.40%	46.83%
Marginal tax rate for dividends is a % of actual dividends received (not grossed-up taxable amount). Marginal tax rate for capital gains is a % of total capital gains (not taxable capital gains). Gross-up rate for eligible dividends is 38%, and for non-eligible dividends is 15%.

New Brunswick Basic Personal Amount
2024 Personal Amount	2024 Tax Rate	2023 Personal Amount	2023 Tax Rate
$13,044	9.40%	$12,458	9.40%

Federal Basic Personal Amount
2024 Personal Amount Minimum / Maximum		2024 Tax Rate	2023 Personal Amount Minimum / Maximum		2023 Tax Rate
$14,156	$15,705	15%	$13,520	$15,000	15%

Manitoba 2024 and 2023 Tax Rates & Tax Brackets

Manitoba Tax Rates
2024 Taxable Income	2024 Tax Rates	2023 Taxable Income	2023 Tax Rates
first $47,000	10.80%	first $36,842	10.80%
over $47,000 up to $100,000	12.75%	over $36,842 up to $79,625	12.75%
over $100,000	17.40%	over $79,625	17.40%

Combined Federal & Manitoba Tax Brackets and Tax Rates
2024 Taxable Income	MB 2024 Marginal Tax Rates				2023 Taxable Income	MB 2023 Marginal Tax Rates
	Other Income	Capital Gains	Canadian Dividends			Other Income	Capital Gains	Canadian Dividends
	Other Income	Capital Gains	Eligible	Non-Eligible		Other Income	Capital Gains	Eligible	Non-Eligible
first $47,000	25.80%	12.90%	3.84%	18.38%	first $36,842	25.80%	12.90%	3.84%	18.38%
over $47,000 up to $55,867	27.75%	13.88%	6.53%	20.63%	over $36,842 up to $53,359	27.75%	13.88%	6.53%	20.63%
over $55,867 up to $100,000	33.25%	16.63%	14.12%	26.95%	over $53,359 up to $79,625	33.25%	16.63%	14.12%	26.95%
over $100,000 up to $111,733	37.90%	18.95%	20.53%	32.30%	over $79,625 up to $106,717	37.90%	18.95%	20.53%	32.30%
over $111,733 up to $173,205	43.40%	21.70%	28.12%	38.62%	over $106,717 up to $165,430	43.40%	21.70%	28.12%	38.62%
over $173,205 up to $246,752	46.72%	23.36%	32.71%	42.44%	over $165,430 up to $235,675	46.72%	23.36%	32.71%	42.44%
over $246,752	50.40%	25.20%	37.78%	46.67%	over $235,675	50.40%	25.20%	37.78%	46.67%
Marginal tax rate for dividends is a % of actual dividends received (not grossed-up taxable amount). Marginal tax rate for capital gains is a % of total capital gains (not taxable capital gains). Gross-up rate for eligible dividends is 38%, and for non-eligible dividends is 15%.

Combined Federal & Manitoba Tax Brackets and Tax Rates
2024 Taxable Income	MB 2024 Marginal Tax Rates				2023 Taxable Income	MB 2023 Marginal Tax Rates
	Other Income	Capital Gains	Canadian Dividends			Other Income	Capital Gains	Canadian Dividends
	Other Income	Capital Gains	Eligible	Non-Eligible		Other Income	Capital Gains	Eligible	Non-Eligible
first $47,000	25.80%	12.90%	3.84%	18.38%	first $36,842	25.80%	12.90%	3.84%	18.38%
over $47,000 up to $55,867	27.75%	13.88%	6.53%	20.63%	over $36,842 up to $53,359	27.75%	13.88%	6.53%	20.63%
over $55,867 up to $100,000	33.25%	16.63%	14.12%	26.95%	over $53,359 up to $79,625	33.25%	16.63%	14.12%	26.95%
over $100,000 up to $111,733	37.90%	18.95%	20.53%	32.30%	over $79,625 up to $106,717	37.90%	18.95%	20.53%	32.30%
over $111,733 up to $173,205	43.40%	21.70%	28.12%	38.62%	over $106,717 up to $165,430	43.40%	21.70%	28.12%	38.62%
over $173,205 up to $246,752	46.72%	23.36%	32.71%	42.44%	over $165,430 up to $235,675	46.72%	23.36%	32.71%	42.44%
over $246,752	50.40%	25.20%	37.78%	46.67%	over $235,675	50.40%	25.20%	37.78%	46.67%
Marginal tax rate for dividends is a % of actual dividends received (not grossed-up taxable amount). Marginal tax rate for capital gains is a % of total capital gains (not taxable capital gains). Gross-up rate for eligible dividends is 38%, and for non-eligible dividends is 15%.

Federal Basic Personal Amount
2024 Personal Amount Minimum / Maximum		2024 Tax Rate	2023 Personal Amount Minimum / Maximum		2023 Tax Rate
$14,156	$15,705	15%	$13,520	$15,000	15%

BC 2024 and 2023 Tax Rates & Tax Brackets

BC Tax Rates
2024 Taxable Income	2024 Tax Rates	2023 Taxable Income	2023 Tax Rates
first $47,937	5.06%	first $45,654	5.06%
over $47,937 up to $95,875	7.70%	over $45,654 up to $91,310	7.70%
over $95,875 up to $110,076	10.50%	over $91,310 up to $104,835	10.50%
over $110,076 up to $133,664	12.29%	over $104,835 up to $127,299	12.29%
over $133,664 up to $181,232	14.70%	over $127,299 up to $172,602	14.70%
over $181,232 up to $252,752	16.80%	over $172,602 up to $240,716	16.80%
over $252,752	20.50%	over $240,716	20.50%

Combined Federal & BC Tax Brackets and Tax Rates
2024 Taxable Income	BC 2024 Marginal Tax Rates				2023 Taxable Income	BC 2023 Marginal Tax Rates
	Other Income	Capital Gains	Canadian Dividends			Other Income	Capital Gains	Canadian Dividends
	Other Income	Capital Gains	Eligible	Non-Eligible		Other Income	Capital Gains	Eligible	Non-Eligible
first $47,937	20.06%	10.03%	-9.60%	10.43%	first $45,654	20.06%	10.03%	-9.60%	10.43%
over $47,937 up to $55,867	22.70%	11.35%	-5.96%	13.47%	over $45,654 up to $53,359	22.70%	11.35%	-5.96%	13.47%
over $55,867 up to $95,875	28.20%	14.10%	1.63%	19.80%	over $53,359 up to $91,310	28.20%	14.10%	1.63%	19.80%
over $95,875 up to $110,076	31.00%	15.50%	5.49%	23.02%	over $91,310 up to $104,835	31.00%	15.50%	5.49%	23.02%
over $110,076 up to $111,733	32.79%	16.40%	7.96%	25.07%	over $104,835 up to $106,717	32.79%	16.40%	7.96%	25.07%
over $111,733 up to $133,664	38.29%	19.15%	15.55%	31.40%	over $106,717 up to $127,299	38.29%	19.15%	15.55%	31.40%
over $133,664 up to $173,205	40.70%	20.35%	18.88%	34.17%	over $127,299 up to $165,430	40.70%	20.35%	18.88%	34.17%
over $173,205 up to $181,232	44.02%	22.01%	23.46%	37.99%	over $165,430 up to $172,602	44.02%	22.01%	23.46%	37.99%
over $181,232 up to $246,752	46.12%	23.06%	26.36%	40.41%	over $172,602 up to $235,675	46.12%	23.06%	26.36%	40.41%
over $246,752 up to $252,752	49.80%	24.90%	31.44%	44.64%	over $235,675 up to $240,716	49.80%	24.90%	31.44%	44.64%
over $252,752	53.50%	26.75%	36.54%	48.89%	over $240,716	53.50%	26.75%	36.54%	48.89%
Marginal tax rate for dividends is a % of actual dividends received (not grossed-up taxable amount). Marginal tax rate for capital gains is a % of total capital gains (not taxable capital gains). Gross-up rate for eligible dividends is 38%, and for non-eligible dividends is 15%.

British Columbia Basic Personal Amount
2024 Personal Amount	2024 Tax Rate	2023 Personal Amount	2023 Tax Rate
$12,580	5.06%	$11,981	5.06%

Federal Basic Personal Amount
2024 Personal Amount Minimum / Maximum		2024 Tax Rate	2023 Personal Amount Minimum / Maximum		2023 Tax Rate
$14,156	$15,705	15%	$13,520	$15,000	15%

Alberta 2024 and 2023 Tax Rates & Tax Brackets

Alberta Tax Rates
2024 Taxable Income	2024 Tax Rates	2023 Taxable Income	2023 Tax Rates
first $148,269	10%	first $142,292	10%
over $148,269 up to $177,922	12%	over $142,292 up to $170,751	12%
over $177,922 up to $237,230	13%	over $170,751 up to $227,668	13%
over $237,230 up to $355,845	14%	over $227,668 up to $341,502	14%
over $355,845	15%	over $341,502	15%

Combined Federal & Alberta Tax Brackets and Tax Rates
2024 Taxable Income	AB 2024 Marginal Tax Rates				2023 Taxable Income	AB 2023 Marginal Tax Rates
	Other Income	Capital Gains	Canadian Dividends			Other Income	Capital Gains	Canadian Dividends
	Other Income	Capital Gains	Eligible	Non-Eligible		Other Income	Capital Gains	Eligible	Non-Eligible
first $55,867	25.00%	12.50%	2.57%	15.86%	first $53,359	25.00%	12.50%	2.57%	15.86%
over $55,867 up to $111,733	30.50%	15.25%	10.16%	22.18%	over $53,359 up to $106,717	30.50%	15.25%	10.16%	22.18%
over $111,733 up to $148,269	36.00%	18.00%	17.75%	28.51%	over $106,717 up to $142,292	36.00%	18.00%	17.75%	28.51%
over $148,269 up to $173,205	38.00%	19.00%	20.51%	30.81%	over $142,292 up to $165,430	38.00%	19.00%	20.51%	30.81%
over $173,205 up to $177,922	41.32%	20.66%	25.09%	34.63%	over $165,430 up to $170,751	41.32%	20.66%	25.09%	34.63%
over $177,922 up to $237,230	42.32%	21.16%	26.47%	35.78%	over $170,751 up to $227,668	42.32%	21.16%	26.47%	35.78%
over $237,230 up to $246,752	43.32%	21.66%	27.85%	36.93%	over $227,668 up to $235,675	43.32%	21.66%	27.85%	36.93%
over $246,752 up to $355,845	47.00%	23.50%	32.93%	41.16%	over $235,675 up to $341,502	47.00%	23.50%	32.93%	41.16%
over $355,845	48.00%	24.00%	34.31%	42.31%	over $341,502	48.00%	24.00%	34.31%	42.31%
Marginal tax rate for dividends is a % of actual dividends received (not grossed-up taxable amount). Marginal tax rate for capital gains is a % of total capital gains (not taxable capital gains). Gross-up rate for eligible dividends is 38%, and for non-eligible dividends is 15%.

Alberta Basic Personal Amount
2024 Personal Amount	2024 Tax Rate	2023 Personal Amount	2023 Tax Rate
$21,885	10%	$21,003	10%

Federal Basic Personal Amount
2024 Personal Amount Minimum / Maximum		2024 Tax Rate	2023 Personal Amount Minimum / Maximum		2023 Tax Rate
$14,156	$15,705	15%	$13,520	$15,000	15%

Canada 2024 and 2023 Tax Rates & Tax Brackets

TaxTips.ca – Canadian Tax Rates – Federal
2024 Taxable Income(1)	Canada 2024 Marginal Tax Rates				2023 Taxable Income(1)	Canada 2023 Marginal Tax Rates
	Other Income	Capital Gains	Canadian Dividends			Other Income	Capital Gains	Canadian Dividends
			Eligible	Non-Eligible				Eligible	Non-Eligible
first $55,867	15.00%	7.50%	-0.03%	6.87%	first $53,359	15.00%	7.50%	-0.03%	6.87%
over $55,867 up to $111,733	20.50%	10.25%	7.56%	13.19%	over $53,359 up to $106,717	20.50%	10.25%	7.56%	13.19%
over $111,733 up to $173,205	26.00%	13.00%	15.15%	19.52%	over $106,717 up to $165,430	26.00%	13.00%	15.15%	19.52%
over $173,205 up to $246,752	29.32%	14.66%	19.73%	23.34%	over $165,430 up to $235,675	29.32%	14.66%	19.73%	23.34%
over $246,752	33.00%	16.50%	24.81%	27.57%	over $235,675	33.00%	16.50%	24.81%	27.57%
Marginal tax rate for dividends is a % of actual dividends received (not grossed-up taxable amount). Marginal tax rate for capital gains is a % of total capital gains (not taxable capital gains). Gross-up rate for eligible dividends is 38%, and for non-eligible dividends is 15%. For more information see dividend tax credits. Copyright © 2002-2024 Boat Harbour Investments Ltd.
TaxTips.ca Federal Basic Personal Amount
2024 Personal Amounts (1)			2024 Tax Rate		2023 Personal Amounts (1)			2023 Tax Rate
Minimum	$14,156		15%		Minimum	$13,520		15%
Maximum	15,705		15%		Maximum	15,000		15%

2024 & 2023 Tax Rates & Tax Brackets – Canada, Provinces & Territories

Choose your province or territory below to see the combined Federal & Provincial/Territorial marginal tax rates for each tax bracket.

Canada tax rates – Federal

Newfoundland & Labrador

Territories:

Northwest Territories

Nunavut

Yukon

2024 Corporate Income Tax Rates

The following table shows the general and small business corporate income tax rates federally and for each province and territory for 2024.

The small business rates are the applicable rates after deducting the small business deduction (SBD), which is available to Canadian-controlled private corporations (CCPCs).

The small business rate is available on active business income up to the amount of the Business Limit. The federal business limit of $500,000 begins to be reduced when a CCPC’s taxable capital reaches $10 million, and is eliminated when taxable capital reaches $15 million ($50 million for tax years that begin on or after the 2022 Federal Budget date of April 7, 2022). This phase-out of the small business deduction is also in effect in some provinces.

The federal 2018 budget implemented changes to reduce the business limit based on the investment income of a CCPC, for taxation years beginning after 2018.

The federal general rate is net of the 10% federal tax abatement and 13% (2012 and later years) general rate reduction.

The corporate tax rate for personal services businesses (PSBs) has been 33% since January 1, 2016. If you are incorporated, provide services, and employ 5 or fewer employees, you may be a personal services business (incorporated employee), which means higher corporate tax rates and limited expense deductions.

2024 Corporate Income Tax Rates
	Active Business Income			Investment Income CCPC
	General	Small Business (CCPC)	Business Limit	Investment Income CCPC
Federal	15%	9%	$500,000	38.7%
Alberta	8%	2%	$500,000	8%
BC	12%	2%	$500,000	12%
Manitoba	12%	zero%	$500,000	12%
New Brunswick	14%	2.5%	$500,000	14%
Newfoundland & Labrador (1)(5)	15%	2.5%	$500,000	15%
Nova Scotia (2)	14%	2.5%	$500,000	14%
Northwest Territories (1)	11.5%	2%	$500,000	11.5%
Nunavut (1)	12%	3%	$500,000	12%
Ontario	11.5%	3.2%	$500,000	11.5%
Prince Edward Island (1)	16%	1%	$500,000	16%
Quebec (3)	11.5%	3.2%	$500,000	11.5%
Saskatchewan (4)	12%	1%	$600,000	12%
Yukon	12%	zero%	$500,000	12%

The general corporate tax rate applies to active business income in excess of the business limit.

(1) NL, NT, NU and PE use the federal small business limit.

(2) Nova Scotia provides a corporate tax holiday under s. 42 of their Income Tax Act for the first 3 taxation years of a new small business after incorporation. See New Small Business Tax Deduction on the Nova Scotia website.

(3) Quebec has more “eligibility requirements” for the SBD than other provinces. See Small Business Deduction (in French only).

(4) Saskatchewan’s Bill 157, The Income Tax Amendment Act, 2024, delays the increase in the corporate income tax rate to 2%. The 2024 Budget announced that the rate would stay at 1% until June 30, 2025. This also results in a change to the 2024 and later non-eligible dividend tax credit rates, and the 2024 marginal tax rate for non-eligible dividends.

(5) Newfoundland & Labrador’s 2024 Budget reduces the 2024 small business tax rate from 3% to 2.5%.