Ads
keep this website free for you. TaxTips.ca does
not research or endorse any product or service appearing in
ads on this site.
Before making a major financial decision you
should consult a qualified professional.
Newfoundland & Labrador 2016 & 2017 Personal Tax Rates
Newfoundland & Labrador 2016 and 2017 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 brackets and personal amounts are increased for 2017 by an indexation factor of
1.014, and the NL brackets and amounts are increased by an indexation factor
of 1.02. 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
2017
2017
2016
2016
first $35,851
8.7%
first $35,148
8.20%
over $35,851 up to
$71,701
14.5%
over $35,148 up to
$70,295
13.50%
over $71,701 up to $128,010
15.8%
over $70,295 up to $125,500
14.55%
over $128,010 up
to $179,214
17.3%
over $125,500 up
to $175,700
15.80%
over $179,214
18.3%
over $175,700
16.80%
Combined Federal
& Newfoundland & Labrador Tax Brackets and Tax Rates
2017
2017
2016
2016
Other
Income
Capital
Gains
Canadian
Dividends
Other
Income
Capital
Gains
Canadian
Dividends
Eligible
Non-Eligible
Eligible
Non-Eligible
first $35,851
23.7%
11.85%
4.53%
11.32%
first $35,148
23.20%
11.60%
3.84%
10.39%
over $35,851 up to
$45,916
29.5%
14.75%
12.53%
18.10%
over $35,148 up to
$45,282
28.50%
14.25%
11.15%
16.59%
over $45,916 up to $71,701
35.0%
17.50%
20.12%
24.54%
over $45,282 up to $70,295
34.00%
17.00%
18.74%
23.02%
over $71,701 up to
$91,831
36.3%
18.15%
21.91%
26.06%
over $70,295 up to
$90,563
35.05%
17.53%
20.19%
24.25%
over $91,831 up to $128,010
41.8%
20.90%
29.50%
32.50%
over $90,563 up to $125,500
40.55%
20.28%
27.78%
30.69%
over $128,010 up
to $142,353
43.3%
21.65%
31.57%
34.25%
over $125,500 up
to $140,388
41.80%
20.90%
29.50%
32.15%
over $142,353 up to $179,214
46.3%
23.15%
35.71%
37.76%
over $140,388 up to $175,700
44.80%
22.40%
33.64%
35.66%
over $179,214 up
to $202,800
47.3%
23.65%
37.09%
38.93%
over $175,700 up
to $200,000
45.80%
22.90%
35.02%
36.83%
over $202,800
51.3%
25.65%
42.61%
43.61%
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 more information see NL
dividend tax
credits.
The information on this site is not intended to be a
substitute for professional advice. Each person's situation differs, and
a professional advisor can assist you in using the information on this web
site to your best advantage
Please see our legal
disclaimer regarding the use of information on our site, and our Privacy
Policy regarding information that may be collected from visitors to our
site.