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% |