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Newfoundland & Labrador 2015 and 2016 Personal Tax Rates
Newfoundland & Labrador 2015 and 2016 Personal Marginal
Income Tax Rates
The NL
2016 Budget increased all personal income tax rates, effective July 1,
2016.
The 2016 rates shown below for the new tax brackets are the effective rates for
2016, and will be the rates on the 2016 income tax
return.
The 2016 marginal tax rate for non-eligible dividends was
reduced by the 2016 NL Budget, for dividends received on or after July 1,
2016. The rate used for 2016 in the table below is an average rate for
the year, which assumes that dividends will be earned evenly throughout the
year.
The Federal tax rates for 2016 are as per Bill
C-2 tabled in December 2015. The Newfoundland & Labrador tax brackets and personal amount were increased
for 2016 by an indexation factor of 1.004. The Federal tax brackets
and personal amount were increased for 2016 by an indexation factor of
1.013. The indexation
factors, tax brackets and tax rates have been confirmed to Canada Revenue Agency
information.
Newfoundland & Labrador
Personal Income Tax Brackets and Tax Rates
2016
Taxable Income
2016
Tax Rates
2015
Taxable Income
2015
Tax Rates
first $35,148
8.2%
first $35,008
7.7%
over $35,148 up to
$70,295
13.5%
over $35,008 up to
$70,015
12.5%
over $70,295 up to $125,500
14.55%
over $70,015 up to $125,000
13.3%
over $125,500 up
to $175,700
15.8%
over $125,000 up
to $175,000
13.8%
over $175,700
16.8%
over $175,000
14.3%
Combined Federal
& Newfoundland & Labrador Tax Brackets and Tax Rates
2016
Taxable Income
2016
Marginal Tax Rates
2015
Taxable Income
2015
Marginal Tax Rates
Other
Income
Capital
Gains
Canadian
Dividends
Other
Income
Capital
Gains
Canadian
Dividends
Eligible
Non-Eligible
Eligible
Non-Eligible
first $35,148
23.20%
11.60%
3.84%
10.39%
first $35,008
22.7%
11.35%
3.15%
8.95%
over $35,148 up to
$45,282
28.50%
14.25%
11.15%
16.59%
over $35,008 up to
$44,701
27.5%
13.75%
9.77%
14.61%
over $45,282 up to $70,295
34.00%
17.00%
18.74%
23.02%
over $44,701 up to $70,015
34.5%
17.25%
19.43%
22.87%
over $70,295 up to
$90,563
35.05%
17.53%
20.19%
24.25%
over $70,015 up to
$89,401
35.3%
17.65%
20.53%
23.82%
over $90,563 up to $125,500
40.55%
20.28%
27.78%
30.69%
over $89,401 up to $125,000
39.3%
19.65%
26.05%
28.54%
over $125,500 up
to $140,388
41.80%
20.90%
29.50%
32.15%
over $125,000 up
to $138,586
39.8%
19.90%
26.74%
29.13%
over $140,388 up to $175,700
44.80%
22.40%
33.64%
35.66%
over $138,586 up to $175,000
42.8%
21.40%
30.88%
32.67%
over $175,700 up
to $200,000
45.80%
22.90%
35.02%
36.83%
over $175,000
43.3%
21.65%
31.57%
33.26%
over $200,000
49.80%
24.90%
40.54%
41.51%
Marginal tax rate for dividends is a % of actual
dividends received (not grossed-up 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
17% for 2016, 18% for 2015.
For more information see NL
dividend tax
credits.
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