Income TaxAug 10, 2025
What are the 2024 federal income tax brackets in Canada?
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For the 2024 tax year, Canada has five federal income tax brackets. Your taxable income is taxed progressively, meaning each portion of income is taxed at the rate for that bracket, not your entire income at one rate.
2024 Federal Tax Brackets:
| Taxable Income Range | Tax Rate |
|---|---|
| Up to C$55,867 | 15% |
| C$55,867 to C$111,733 | 20.5% |
| C$111,733 to C$154,906 | 26% |
| C$154,906 to C$220,000 | 29% |
| Over C$220,000 | 33% |
Example calculation: If your taxable income is C$90,000, you do not pay 20.5% on the entire amount. Instead, you pay 15% on the first C$55,867 (which equals C$8,380.05) and then 20.5% on the remaining C$34,133 (which equals C$6,997.27), for a total federal tax of approximately C$15,377.32 before credits.
Important notes:
- These brackets are indexed to inflation each year, so they change annually.
- Provincial or territorial taxes are calculated separately and added on top of federal tax.
- The basic personal amount of C$15,705 for 2024 means the first C$15,705 of income is effectively tax-free at the federal level.
- Non-refundable tax credits (such as the basic personal amount credit) reduce your tax payable, not your taxable income.
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Disclaimer: This information is for general educational purposes and is not professional tax advice. Tax situations vary. Consult a qualified tax professional for advice specific to your circumstances.