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2012 Tax Comparison of Dividends vs Interest
The tables on this page compare taxes payable by province/territory in 2012 for three different types of investment income:
- Canadian non-eligible Canadian dividends, and
- other investment income such as foreign dividends and interest.
The calculations assume that the income is earned by a single person, and that there is no other type of income included in taxable income. The tax rates used are as known on November 12, 2012. The total taxes payable include any alternative minimum tax, where applicable.
Taxes Payable on Eligible Dividends
| Actual Eligible Dividends |
Taxable Income |
Total Federal + Provincial Income Taxes Payable (Refundable) in 2012 | ||||||||||||
| AB | BC | MB | NB | NL | NS | NT | NU | ON | PE | QC | SK | YT | ||
| $50,000 | $69,000 | $204 | $1,002 | $2,037 | $204 | $204 | $2,014 | $(739) | $(997) | $804 | $591 | $2,915 | $204 | $204 |
| 60,000 | 82,800 | 1,450 | 2,245 | 4,612 | 1,496 | 1,484 | 4,387 | 529 | 271 | 2,495 | 2,741 | 5,217 | 1,482 | 1,469 |
| 80,000 | 110,400 | 4,476 | 5,270 | 10,244 | 4,538 | 4,522 | 9,731 | 3,562 | 3,829 | 6,834 | 7,494 | 11,261 | 4,518 | 4,501 |
| 100,000 | 138,000 | 7,406 | 8,203 | 15,739 | 7,425 | 7,855 | 15,004 | 6,473 | 7,846 | 11,081 | 12,091 | 17,306 | 8,049 | 7,414 |
Taxes Payable on Non-eligible Dividends
| Actual Non-eligible Dividends |
Taxable Income |
Total Federal + Provincial Income Taxes Payable in 2012 | ||||||||||||
| AB | BC | MB | NB | NL | NS | NT | NU | ON | PE | QC | SK | YT | ||
| $15,000 | $18,750 | $0 | $0 | $716 | $0 | $0 | $0 | $(396) | $(375) | $0 | $832 | $458 | $0 | $0 |
| 30,000 | 37,500 | 709 | 859 | 2,588 | 588 | 600 | 151 | (631) | (750) | 390 | 2,765 | 1,654 | 981 | 187 |
| 50,000 | 62,500 | 3,138 | 2,738 | 6,142 | 3,070 | 3,278 | 2,824 | (103) | (231) | 2,236 | 6,769 | 5,328 | 3,944 | 2,146 |
| 60,000 | 75,000 | 5,034 | 4,386 | 8,972 | 5,004 | 5,373 | 5,029 | 1,067 | 1,227 | 4,050 | 9,772 | 7,832 | 6,152 | 3,876 |
| 80,000 | 100,000 | 9,410 | 9,180 | 15,635 | 9,525 | 10,198 | 10,079 | 5,283 | 5,099 | 8,404 | 16,448 | 14,121 | 11,153 | 8,176 |
| 100,000 | 125,000 | 14,201 | 15,095 | 22,714 | 14,483 | 15,440 | 15,696 | 10,000 | 9,515 | 13,330 | 23,863 | 20,965 | 16,666 | 13,075 |
Taxes Payable on Other Income (foreign dividends, interest, etc.)
| Interest Income |
Taxable Income |
Total Federal + Provincial Income Taxes Payable in 2012 | ||||||||||||
| AB | BC | MB | NB | NL | NS | NT | NU | ON | PE | QC | SK | YT | ||
| $15,000 | $15,000 | $627 | $627 | $1,192 | $627 | $627 | $900 | $378 | $438 | $758 | $1,091 | $749 | $633 | $686 |
| 30,000 | 30,000 | 4,149 | 4,385 | 5,184 | 4,648 | 4,552 | 4,794 | 3,326 | 2,988 | 4,217 | 5,061 | 5,681 | 4,533 | 4,227 |
| 50,000 | 50,000 | 9,659 | 9,484 | 11,225 | 10,454 | 10,424 | 11,294 | 8,077 | 7,177 | 9,488 | 11,252 | 12,490 | 10,402 | 9,338 |
| 60,000 | 60,000 | 12,859 | 12,454 | 14,700 | 13,864 | 13,874 | 15,003 | 11,037 | 9,877 | 12,603 | 14,832 | 16,427 | 13,902 | 12,506 |
| 80,000 | 80,000 | 19,259 | 18,561 | 22,255 | 20,695 | 20,888 | 22,737 | 17,193 | 15,677 | 19,236 | 22,457 | 24,301 | 20,902 | 18,842 |
| 100,000 | 100,000 | 26,243 | 25,913 | 30,719 | 28,158 | 28,531 | 31,113 | 24,617 | 22,432 | 27,663 | 30,812 | 33,454 | 28,486 | 26,121 |
Notes re all three tables:
 | BC includes MSP premiums payable for 2013 based on 2012 income |
| Ontario - includes Ontario Health Premium |
| QC includes health contribution, contribution to the health services fund, and prescription drug insurance plan premiums |
| QC taxes are net of tax credit for person living alone |
TaxTips.ca Resources
Income Tax Planning Calculators
Tax Comparisons by Province and Territory, which compare different levels of employment income.
Revised: October 26, 2023