Newfoundland & Labrador 2024 & 2023 Tax Rates & Tax Brackets

Newfoundland & Labrador Tax Rates
2024 Taxable Income 2024 Tax Rates 2023 Taxable Income 2023 Tax Rates
first $43,198 8.7% first $41,457 8.7%
over $43,198 up to $86,395 14.5% over $41,457 up to $82,913 14.5%
over $86,395 up to $154,244 15.8% over $82,913 up to $148,027 15.8%
over $154,244 up to $215,943 17.8% over $148,027 up to $207,239 17.8%
over $215,943 up to $275,870 19.8% over $207,239 up to $264,750 19.8%
over $275,870 up to $551,739 20.8% over $264,750 up to $529,500 20.8%
over $551,739 up to $1,103,478 21.3% over $529,500 up to $1,059,000 21.3%
over $1,103,478 21.8% over $1,059,000 21.8%
Combined Federal & Newfoundland & Labrador Tax Brackets and Tax Rates
2024 Taxable Income NL 2024 Marginal Tax Rates 2023 Taxable Income NL 2023 Marginal Tax Rates
Other
Income
Capital
Gains
Canadian Dividends Other
Income
Capital
Gains
Canadian Dividends
Eligible Non-Eligible Eligible Non-Eligible
first $43,198 23.70% 11.85% 3.28% 13.19% first $41,457 23.70% 11.85% 3.28% 13.19%
over $43,198 up to $55,867 29.50% 14.75% 11.29% 19.86% over $41,457 up to $53,359 29.50% 14.75% 11.29% 19.86%
over $55,867 up to $86,395 35.00% 17.50% 18.88% 26.19% over $53,359 up to $82,913 35.00% 17.50% 18.88% 26.19%
over $86,395 up to $111,733 36.30% 18.15% 20.67% 27.68% over $82,913 up to $106,717 36.30% 18.15% 20.67% 27.68%
over $111,733 up to $154,244 41.80% 20.90% 28.26% 34.01% over $106,717 up to $148,027 41.80% 20.90% 28.26% 34.01%
over $154,244 up to $173,205 43.80% 21.90% 31.02% 36.31% over $148,027 up to $165,430 43.80% 21.90% 31.02% 36.31%
over $173,205 up to $215,943 47.12% 23.56% 35.60% 40.13% over $165,430 up to $207,239 47.12% 23.56% 35.60% 40.13%
over $215,943 up to $246,752 49.12% 24.56% 38.36% 42.43% over $207,239 up to $235,675 49.12% 24.56% 38.36% 42.43%
over $246,752 up to $275,870 52.80% 26.40% 43.44% 46.66% over $235,675 up to $264,750 52.80% 26.40% 43.44% 46.66%
over $275,870 up to $551,739 53.80% 26.90% 44.82% 47.81% over $264,750 up to $529,500 53.80% 26.90% 44.82% 47.81%
over $551,739 up to $1,103,478 54.30% 27.15% 45.51% 48.38% over $529,500 up to $1,059,000 54.30% 27.15% 45.51% 48.38%
over $1,103,478 54.80% 27.40% 46.20% 48.96% over $1,059,000 54.80% 27.40% 46.20% 48.96%
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%.
Newfoundland & Labrador Basic Personal Amount
2024 Personal Amount 2024 Tax Rate 2023 Personal Amount 2023 Tax Rate
$10,818 8.7% $10,382 8.7%
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%