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2021 Tax Comparison Investment Income - Dividends vs Interest
- 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 July 22, 2021. The total taxes payable include
any alternative minimum tax, where applicable.
Taxes Payable on Eligible Dividends
Note: Eligible dividends gross-up % is 38%, as it has been since 2012.
The NT & NU refundable amounts are from their cost of living tax credits.
Actual
Eligible
Dividends
Taxable
Income
Total Federal +
Provincial Income Taxes Payable (Refundable) in 2021
AB
BC
MB
NB
NL
NS
NT
NU
ON
PE
QC
SK
YT
$30,000
$41,400
$0
$0
$236
$0
$729
$0
$(680)
$(828)
$450
$0
$825
$0
$0
50,000
69,000
0
0
1,547
0
3,241
1,778
(942)
(1,380)
600
114
1,940
0
0
60,000
82,800
1,254
1,242
4,056
1,458
6,051
4,352
405
(153)
2,054
2,433
3,926
1,393
1,325
80,000
110,400
4,756
4,591
10,169
5,050
12,523
10,251
3,872
3,314
5,712
7,740
9,740
4,912
4,768
100,000
138,000
8,399
7,581
15,749
8,032
18,406
15,620
6,858
7,185
9,125
12,434
16,322
7,897
7,755
Taxes Payable on Non-Eligible Dividends
Note: Non-eligible dividends gross-up % is 15%, as it has been
since 2019.
The BC refundable amount is the sales tax credit, while NT & NU
refundable amounts are from their cost of living tax credits.
Actual
Non-eligible
Dividends
Taxable
Income
Total Federal +
Provincial Income Taxes Payable (Refundable) in 2021
AB
BC
MB
NB
NL
NS
NT
NU
ON
PE
QC
SK
YT
$15,000
$17,250
$0
$(30)
$577
0
0
0
$(378)
$(345)
$0
0
$25
$0
$105
30,000
34,500
761
494
2,398
1,117
964
1,344
(593)
(690)
300
1,776
2,258
1,334
1,093
50,000
57,500
4,387
3,455
6,978
5,399
5,115
6,044
971
1,142
3,572
6,327
6,935
5,424
4,459
60,000
69,000
6,606
5,434
9,673
8,106
7,699
8,969
2,205
2,736
5,600
9,154
9,941
7,985
6,736
80,000
92,000
11,043
9,606
15,952
13,594
13,073
14,785
5,253
6,263
10,075
15,182
16,094
13,108
11,290
100,000
115,000
16,412
15,465
23,345
20,332
19,473
21,684
10,249
11,273
16,896
22,172
23,964
19,164
17,099
Taxes Payable on Other Income (foreign dividends, interest, etc.)
The NT & NU refundable amounts are from their cost of living tax
credits.
Interest
Income
Taxable
Income
Total Federal +
Provincial Income Taxes Payable (Refundable) in 2021
AB
BC
MB
NB
NL
NS
NT
NU
ON
PE
QC
SK
YT
$15,000
$15,000
$179
$104
$603
$179
$179
$188
$(171)
$(121)
$179
$270
$149
$179
$255
30,000
30,000
3,492
3,211
4,596
3,937
4,209
4,108
2,762
2,370
3,694
4,340
4,994
3,875
3,465
50,000
50,000
8,546
7,659
10,127
9,523
9,694
10,258
6,902
5,922
8,258
10,074
10.793
9,115
7,824
60,000
60,000
11,596
10,479
13,452
13,055
13,194
13,870
9,712
8,472
11,223
13,504
14,571
12,415
10,774
80,000
80,000
17,696
16,119
20,433
20,119
20,245
21,383
15,472
13,672
17,312
20,829
22,194
19,015
16,674
100,000
100,000
23,904
22,360
28,120
27,501
27,612
28,982
21,804
19,410
24,204
28,380
30,299
25,723
22,719
Notes re all three tables:
Ontario
- includes Ontario Health Premium.
QC includes contribution to the
health services fund and prescription drug insurance plan premiums.
QC taxes are net of tax credit for person living
alone.
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