Ontario 2013 and 2012 Personal Marginal Income Tax Rates
aliko-aapayrollservices.com - Small businessess from 1 to 80 employees outsource your payroll management to us and let us worry about your payroll processing.
RSS Follow Become a Fan

Delivered by FeedBurner


Recent Posts

What do you think of the new Ontario Retirement Pension Plan (ORPP)
A case study on CPP combined benefits
Ontario moves ahead with ORPP
What do you think of the new Ontario Retirement Pension Plan (ORPP)
It’s Important to Teach Your Children About Money

Most Popular Posts

Help your teenager build credit responsibly
Being an Executor of an Estate
Anti-Aging
Student Line of Credit
Principal Residence Exemption

Categories

aliko nutrition store- isotonix
aliko payroll services
canada revenue news and videos
canadian news
CPP ,OAS RRIF ANNUITY
Cross border Tax
Disability awareness and Benefits for disabled
estate planning
FINANCIAL LITERACY
HEALTH & NUTRITION
Home Car Insurance
Income Splitting Strategies in Retirement
INVESTING
kids and money -set your children up for financial success
life insurance
on line safety tips
online safety tips
PAYROLL
Real Estate - Investments / Retirement
RETIRE HAPPY BLOG
Retirement planning
SAVE YOUR MONEY
Save your money
SERVICE CANADA NEWS
small business planning
Tax Information for Students
tax news
tax planning
tax tips.ca
Tech news
TFSA

Archives

July 2014
June 2014
May 2014
April 2014
March 2014
February 2014
January 2014
December 2013
November 2013
October 2013
September 2013
August 2013
July 2013
June 2013

powered by

MY BLOG

Ontario 2013 and 2012 Personal Marginal Income Tax Rates

Ontario 2013 and 2012 Personal Marginal Income Tax Rates
 
 
 
Ontario 2013 and 2012 Personal Marginal Income Tax Rates
 
 
 
 
The Ontario tax brackets and personal amount were increased for 2013 by an indexation factor of 1.018.  The Federal tax brackets and personal amount were increased for 2013 by an indexation factor of 1.020. The Ontario 2012 Budget added a tax bracket for taxable income in excess of $500,000, which is also indexed for inflation.  The rate for this tax bracket is 12.16% for 2012, and 13.16% for 2013. Please read the article Understanding the Tables of Personal Income Tax Rates. webbot bot="PurpleText" PREVIEW="Start of Google 160x600 ad channel Tax Rates - targetable (text/image)" webbot bot="PurpleText" PREVIEW="End of Google ad" Ontario (ON)
Personal Income Tax Brackets and Rates Before Surtax
2013 Taxable Income  2013 Tax Rates2012 Taxable Income  2012 Tax Ratesfirst $39,7235.05%first $39,0205.05%over $39,723 up to $79,4489.15%over $39,020 up to $78,0439.15%over $79,448 up to $509,00011.16%over $78,043 up to $500,00011.16%over $509,00013.16%over $500,00012.16%Ontario (ON)
Combined Federal & Provincial Tax Rates Including Surtaxes
2013 Taxable Income  2013 Marginal Tax Rates2012 Taxable Income  2012 Marginal Tax RatesOther
Income
Capital
Gains
Canadian DividendsOther
Income
Capital
Gains
Canadian DividendsEligible
Dividends
Non-Eligible
Dividends
Eligible
Dividends
Non-Eligible
Dividends
first $39,72320.05%10.03%-1.89%2.77%first $39,02020.05%10.03%-1.89%2.77%over $39,723 up to $43,56124.15%12.08%3.77%7.90%over $39,020 up to $42,70724.15%12.08%3.77%7.90%over $43,561 up to $69,96331.15%15.58%13.43%16.65%over $42,707 up to $68,71931.15%15.58%13.43%16.65%over $69,963 up to $79,44832.98%16.49%14.19%17.81%over $68,719 up to $78,04332.98%16.49%14.19%17.81%over $79,448 up to $82,42235.39%17.70%17.52%20.82%over $78,043 up to $80,96335.39%17.70%17.52%20.82%over $82,422 up to $87,12339.41%19.70%19.88%23.82%over $80,963 up to $85,41439.41%19.70%19.88%23.82%over $87,123 up to $135,05443.41%21.70%25.40%28.82%over $85,414 up to $132,40643.41%21.70%25.40%28.82%over $135,054 up to $509,00046.41%23.20%29.54%32.57%over $132,406 up to $500,00046.41%23.20%29.54%32.57%over $509,00049.53%24.76%33.85%36.47%over $500,00047.97%23.98%31.69%34.52%Marginal tax rate for dividends is a % of actual dividends received (not grossed-up amount).
Marginal tax rate for capital gains is a % of total capital gains (not taxable capital gains).
Marginal tax rates above do not include the
Ontario Health Premium, which increases the above rates by up to 1.2%ON Surtaxes20132012ON surtax rate (included in above rates)20%36%ON surtax rate (included in above rates)20%36%Surtax is on ON tax greater than$ 4,289$ 5,489Surtax is on ON tax greater than$ 4,213$ 5,392Person with only basic personal amount - surtax starts at taxable income of$ 69,963$ 82,422Person with only basic personal amount - surtax starts at taxable income of$ 68,719$ 80,963Note that the 36% surtax is in addition to the 20% surtax, for a total surtax of 56%.  The surtax increases the 2013 rate of 13.16% to 20.53% (13.16% x 1.56). ON Basic Personal Amount2013Tax Rate2012Tax Rate$9,5745.05%$9,4055.05%Federal Basic Personal Amount2013Tax Rate2012Tax Rate$11,03815.00%$10,82215.00% 
 
 

0 Comments to Ontario 2013 and 2012 Personal Marginal Income Tax Rates:

Comments RSS

Add a Comment

Your Name:
Email Address: (Required)
Website:
Comment:
Make your text bigger, bold, italic and more with HTML tags. We'll show you how.
Post Comment