Newfoundland & Labrador 2023 & 2022 Tax Rates & Tax Brackets

Newfoundland and Labrador Income Tax Act, 2000 s. 6.1, 7, 9

The NL tax brackets and personal tax credit amounts are increased for 2023 by an indexation factor of 1.059 (5.9% increase).

The Federal tax brackets and personal tax credit amounts are increased for 2023 by an indexation factor of 1.063 (6.3% increase).

See Indexation of the Personal Income Tax System for how the indexation factors are calculated.

The indexation factors, tax brackets and tax rates for 2023 have been confirmed to Canada Revenue Agency information.

Tax Tip: read the article Understanding the Tables of Personal Income Tax Rates, especially if you are trying to compare the rates below to the marginal tax rates in the Basic Tax Calculator or the Detailed Tax Calculators.

TaxTips.ca - Newfoundland & Labrador Tax Rates
2023 Taxable Income	2023 Tax Rates	2022 Taxable Income	2022 Tax Rates
first $41,457	8.7%	first $39,147	8.7%
over $41,457 up to $82,913	14.5%	over $39,147 up to $78,294	14.5%
over $82,913 up to $148,027	15.8%	over $78,294 up to $139,780	15.8%
over $148,027 up to $207,239	17.8%	over $139,780 up to $195,693	17.8%
over $207,239 up to $264,750	19.8%	over $195,693 up to $250,000	19.8%
over $264,750 up to $529,500	20.8%	over $250,000 up to $500,000	20.8%
over $529,500 up to $1,059,000	21.3%	over $500,000 up to $1,000,000	21.3%
over $1,059,000	21.8%	over $1,000,000	21.8%

TaxTips.ca - Combined Federal & Newfoundland & Labrador Tax Brackets and Tax Rates
2023 Taxable Income (1)	NL 2023 Marginal Tax Rates				2022 Taxable Income (1)	NL 2022 Marginal Tax Rates
	Other Income	Capital Gains	Canadian Dividends			Other Income	Capital Gains	Canadian Dividends
	Other Income	Capital Gains	Eligible	Non-Eligible		Other Income	Capital Gains	Eligible	Non-Eligible
first $41,457	23.70%	11.85%	3.28%	13.19%	first $39,147	23.70%	11.85%	3.28%	13.19%
over $41,457 up to $53,359	29.50%	14.75%	11.29%	19.86%	over $39,147 up to $50,197	29.50%	14.75%	11.29%	19.86%
over $53,359 up to $82,913	35.00%	17.50%	18.88%	26.19%	over $50,197 up to $78,294	35.00%	17.50%	18.88%	26.19%
over $82,913 up to $106,717	36.30%	18.15%	20.67%	27.68%	over $78,294 up to $100,392	36.30%	18.15%	20.67%	27.68%
over $106,717 up to $148,027	41.80%	20.90%	28.26%	34.01%	over $100,392 up to $139,780	41.80%	20.90%	28.26%	34.01%
over $148,027 up to $165,430	43.80%	21.90%	31.02%	36.31%	over $139,780 up to $155,625	43.80%	21.90%	31.02%	36.31%
over $165,430 up to $207,239	47.12%	23.56%	35.60%	40.13%	over $155,625 up to $195,693	47.18%	23.59%	35.68%	40.20%
over $207,239 up to $235,675	49.12%	24.56%	38.36%	42.43%	over $195,693 up to $221,708	49.18%	24.59%	38.44%	42.50%
over $235,675 up to $264,750	52.80%	26.40%	43.44%	46.66%	over $221,708 up to $250,000	52.80%	26.40%	43.44%	46.66%
over $264,750 up to $529,500	53.80%	26.90%	44.82%	47.81%	over $250,000 up to $500,000	53.80%	26.90%	44.82%	47.81%
over $529,500 up to $1,059,000	54.30%	27.15%	45.51%	48.38%	over $500,000 up to $1,000,000	54.30%	27.15%	45.51%	48.38%
over $1,059,000	54.80%	27.40%	46.20%	48.96%	over $1,000,000	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%. For more information see NL dividend tax credits. Copyright © 2002 Boat Harbour Investments Ltd.
TaxTips.ca Newfoundland & Labrador Basic Personal Amount
2023 Personal Amount	2023 Tax Rate				2022 Personal Amount	2022 Tax Rate
$10,382	8.7%				$9,804	8.7%
Federal Basic Personal Amount
2023 Personal Amount (1)	2023 Tax Rate				2022 Personal Amount (1)	2022 Tax Rate
$15,000	15%				$14,398	15%

(1) See the federal tax rates page for information on the enhanced federal personal amount, which increases the marginal tax rates for taxable incomes in the second highest federal tax bracket. The marginal tax rates in blue above have been adjusted to reflect these changes.

Revised: September 20, 2024