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British Columbia
Tax Rates   ->   Current Marginal Tax Rates -> BC Personal Income Tax Rates

BC 2020 and 2019 Personal Marginal Income Tax Rates

BC Income Tax Act s. 4.1, 4.3, 4.52, 4.69

Please read the article Understanding the Tables of Personal Income Tax Rates.

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 information.

The BC 2020 Budget added a new high tax bracket for taxable incomes over $220,000, as shown below.

The BC September 2017 Budget increased the enhanced dividend tax credit from 10% of the taxable dividend to 12%, effective January 1, 2019.

British Columbia Personal Income Tax Brackets and Tax Rates
2020 Taxable Income 2020 Tax Rates 2019 Taxable Income 2019 Tax Rates
first $41,725 5.06% first $40,707 5.06%
over $41,725 up to $83,451 7.70% over $40,707 up to $81,416 7.70%
over $83,451 up to $95,812 10.50% over $81,416 up to $93,476 10.50%
over $95,812 up to $116,344 12.29% over $93,476 up to $113,506 12.29%
over $116,344 up to $157,748 14.70% over $113,506 up to $153,900 14.70%
over $157,748 up to $220,000 16.80% over $153,900 16.80%
over $220,000 20.50%

 

Combined Federal & British Columbia Tax Brackets and Tax Rates
2020 Taxable Income 2020 Marginal Tax Rates 2019 Taxable Income 2019 Marginal Tax Rates
Other
Income
Capital
Gains
Canadian Dividends Other
Income
Capital
Gains
Canadian Dividends
Eligible Non-Eligible Eligible Non-Eligible
first $41,725 20.06% 10.03% -9.60% 10.43% first $40,707 20.06% 10.03% -9.60% 10.43%
over $41,725 up to $48,535 22.70% 11.35% -5.96% 13.47% over $40,707 up to $47,630 22.70% 11.35% -5.96% 13.47%
over $48,535 up to $83,451 28.20% 14.10% 1.63% 19.80% over $47,630 up to $81,416 28.20% 14.10% 1.63% 19.80%
over $83,451 up to $95,812 31.00% 15.50% 5.49% 23.02% over $81,416 up to $93,476 31.00% 15.50% 5.49% 23.02%
over $95,812 up to $97,069 32.79% 16.40% 7.96% 25.07% over $93,476 up to $95,259 32.79% 16.40% 7.96% 25.07%
over $97,069 up to $116,344 38.29% 19.15% 15.55% 31.40% over $95,259 up to $113,506 38.29% 19.15% 15.55% 31.40%
over $116,344 up to $150,473 40.70% 20.35% 18.88% 34.17% over $113,506 up to $147,667 40.70% 20.35% 18.88% 34.17%
over $150,473 up to $157,748 43.92% 21.96% 23.32% 37.87% over $147,667 up to $153,900 43.70% 21.85% 23.02% 37.62%
over $157,748 up to $214,368 46.02% 23.01% 26.22% 40.29% over $153,900 up to $210,371 45.80% 22.90% 25.92% 40.04%
over $214,368 up to $220,000 49.80% 24.90% 31.44% 44.64% over $210,371 49.80% 24.90% 31.44% 44.64%
over $220,000 53.50% 26.75% 36.54% 48.89%
Marginal tax rate for dividends is a % of actual dividends received (not grossed-up taxable 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 15%.
For more information see BC dividend tax credits.
Copyright © 2002 Boat Harbour Investments Ltd.
British Columbia Basic Personal Amount
2020 Personal Amount 2020 Tax Rate 2019 Personal Amount 2019 Tax Rate
$10,949 5.06% $10,682 5.06%
Federal Basic Personal Amount
2020 Personal Amount (1) 2020 Tax Rate 2019 Personal Amount 2019 Tax Rate
$13,229 15% $12,069 15%

(1) The 2020 federal 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 of $931 is reduced until it becomes zero at net income of $214,368.  The marginal tax rates above have been adjusted to reflect this change.

BC tax rates can also be seen on the BC Ministry of Finance website.

Revised: October 21, 2020

Copyright © 2002 Boat Harbour Investments Ltd. All Rights Reserved.  See Reproduction of information from TaxTips.ca

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