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Tax Comparison Investment Income 2014 - Dividends vs Interest TaxTips.ca
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Personal Tax ->   Dividend tax credits   ->
                         ->   Tax Rates   ->   Tax comparisons   ->   Tax Comparisons Investment Income  - >2014

2014 Tax Comparison of Dividends vs Interest

The tables on this page compare taxes payable by province/territory in 2014 for three different types of investment income:

  - Canadian eligible dividends

  - 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 August 18, 2014.  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 2014
AB BC MB NB NL NS NT NU ON PE QC SK YT
$30,000 $41,400 $0 $864 $376 $0 $0 $0 $(680) $(828) $450 $0 $910 $0 $0
50,000 69,000 69 933 1,849 69 735 1,879 (873) (1,131) 669 457 2,693 69 69
60,000 82,800 1,433 2,293 4,555 1,499 2,851 4,389 521 263 2,179 2,744 4,963 1,478 1,460
80,000 110,400 4,494 5,352 10,236 5,315 7,348 9,791 3,599 3,758 5,238 7,555 11,166 4,565 4,536
100,000 138,000 7,465 8,324 15,789 9,649 11,714 15,131 6,562 7,729 9,803 12,219 17,963 8,012 7,500

Taxes Payable on Non-Eligible Dividends

Note:  Non-eligible dividends gross-up % is 18% in 2014, and was 25% in previous years.

Actual
Non-eligible
Dividends
Taxable
Income
Total Federal + Provincial Income Taxes Payable in 2014
AB BC MB NB NL NS NT NU ON PE QC SK YT
$15,000 $17,700 $0 $(21) $709 $0 $0 $0 $(383) $(354) $0 $298 $173 $0 $0
30,000 35,400 664 1,239 2,629 608 510 645 (605) (708) 300 1,717 1,579 999 281
50,000 59,000 4,025 4,120 7,174 4,413 4,119 4,520 861 1,122 2,943 5,951 6,134 4,839 3,121
60,000 70,800 6,135 6,018 10,054 6,832 6,371 7,087 2,087 2,864 4,790 8,696 8,844 7,268 5,084
80,000 94,400 10,615 10,757 16,816 12,199 11,287 12,498 6,043 6,860 10,111 14,734 14,938 12,385 9,384
100,000 118,000 15,780 16,900 24,263 18,383 16,889 18,778 11,043 11,800 16,694 21,456 22,390 18,187 14,669

Taxes Payable on Other income (foreign dividends, interest, etc.)

Interest
Income
Taxable
Income
Total Federal + Provincial Income Taxes Payable in 2014
AB BC MB NB NL NS NT NU ON PE QC SK YT
$15,000 $15,000 $579 $504 $1,091 $579 $579 $852 $308 $377 $672 $1,044 $492 $579 $634
30,000 30,000 4,051 4,431 5,083 4,629 4,479 4,746 3,256 2,927 4,156 5,014 5,495 4,438 4,157
50,000 50,000 9,474 9,475 11,037 10,726 10,198 11,159 7,890 6,992 9,294 11,117 12,268 10,195 9,148
60,000 60,000 12,674 12,445 14,512 14,408 13,648 14,869 10,850 9,692 12,409 14,697 16,205 13,695 12,316
80,000 80,000 19,074 18,519 22,066 21,796 20,640 22,603 16,923 15,492 18,960 22,322 24,079 20,695 18,652
100,000 100,000 25,958 25,746 30,430 29,983 28,183 30,878 24,247 2,2100 27,190 30,577 33,037 28,179 25,782

Notes re all three tables:

bullet BC includes MSP premiums payable for 2015 based on 2014 income.
bullet NL dividends are assumed to be received evenly throughout the year, so the taxes are lower than they will be in 2015.
bullet Ontario - includes Ontario Health Premium.
bullet QC includes progressive health contribution, contribution to the health services fund, and prescription drug insurance plan premiums.
bullet 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: April 27, 2021

 

 

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