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.
BC 2019 & 2020 Income Tax Rates
Canadian Tax and
If you use an ad blocker, please consider a
small contribution to
help keep TaxTips.ca free for everyone.
The Federal tax brackets and personal amounts are increased for
2020 by an indexation factor of 1.019, and the BC brackets and amounts are increased by an indexation factor of
1.025. The indexation
factors, tax brackets and tax rates have been confirmed to Canada Revenue Agency
The BC 2020 Budget
added a new high tax bracket for taxable incomes over
$220,000, as shown below.
September 2017 Budget increased the enhanced dividend tax credit from 10% of the taxable dividend to
12%, effective January 1, 2019.
Personal Income Tax Brackets and Tax Rates
$41,725 up to $83,451
over $40,707 up to
over $83,451 up to
over $81,416 up to $93,476
$95,812 up to $116,344
over $93,476 up to
over $116,344 up to
over $113,506 up to $153,900
$157,748 up to $220,000
& British Columbia Tax Brackets and Tax Rates
(1) The 2020
personal amount is increased from $12,298 to $13,229 for taxpayers with net income of
$150,473 or less. For incomes above this threshold, the additional amount
is reduced until it becomes zero at net income of $214,368. The
marginal tax rates above have been adjusted to reflect this change.