Growing plants in coin bag

2021 Tax Rates

2021 Combined Federal and Ontario Tax Brackets for Individuals

Taxable Income Regular Income% Ineligible (Private Corporation) Dividends % Eligible Canadian Dividends % Capital Gains %
$0 to $45,142 20.05 9.24 0.00 10.03
$45,143 to $49,020 24.15 13.95 0.00 12.08
$49,021 to $79,505 29.65 20.28 6.39 14.83
$79,506 to $90,287 31.48 22.38 8.92 15.74
$ 90,288 to $93,655 33.89 25.16 12.24 16.95
$93,656 to $98,040 37.91 29.78 17.79 18.95
$98,041 to $150,000 43.41 36.10 25.38 21.70
$150,001 to $151,978 44.97 37.90 27.53 22.48
$151,979 to $216,511 48.29 41.72 32.11 24.14
$216,512 to $220,000 51.97 45.95 37.19 25.98
$220,001 and up 53.53  47.74 39.34 26.76

(This table does not include the Ontario Health Premium)

2021 Federal and Ontario Combined Corporate Income Tax Rates

Canadian Controlled Private Corporations Other Corporations
Small Business Income(up to $500,000) Investment Income** General Manufacturing and Processing General Active Business Income
12.20% 50.20%* 25.00% 26.50%
*30.667% of investment income is eligible for refund at a rate of $1 for every $2.61 of dividends paid.

**Canadian taxable dividend income (not from a connected corporation) is taxed federally only under Part IV at a rate of 38.33%.  This tax is eligible for refund at a rate of $1 for every $2.61 of dividends paid.

 

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