Newfoundland & Labrador 2022 and 2021 Personal Marginal Income Tax Rates

Newfoundland and Labrador Income Tax Act, 2000 s. 6.1, 7, 9

The Federal tax brackets and personal tax credit amounts are increased for 2022 by an indexation factor of 1.024 (a 2.4% increase).

The NL tax brackets and personal tax credit amounts are increased for 2022 by an indexation factor of 1.028 (a 2.8% increase).

The NL 2021 Budget increased tax rates for taxable incomes over $135,973 and added 3 new tax brackets, beginning January 1, 2022.

Bill 15, An Act to Amend the Income Tax Act, 2000 No. 2 increased the eligible dividend tax credit rate from 5.4% to 6.3% and reduced the non-eligible dividend tax credit rate from 3.5% to 3.2%, effective January 1, 2022.

The indexation factors, tax brackets and tax rates have been confirmed to Canada Revenue Agency information.

Tax Tip: read the article Understanding the Tables of Personal Income Tax Rates, especially if you are trying to compare the rates below to the marginal tax rates in the Basic Tax Calculator.

TaxTips.ca - Newfoundland & Labrador Personal Income Tax Brackets and Tax Rates
2022 Taxable Income	2022 Tax Rates	2021 Taxable Income	2021 Tax Rates
first $39,147	8.7%	first $38,081	8.7%
over $39,147 up to $78,294	14.5%	over $38,081 up to $76,161	14.5%
over $78,294 up to $139,780	15.8%	over $76,161 up to $135,973	15.8%
over $139,780 up to $195,693	17.8%	over $135,973 up to $190,363	17.3%
over $195,693 up to $250,000	19.8%	over $190,363	18.3%
over $250,000 up to $500,000	20.8%
over $500,000 up to $1,000,000	21.3%
over $1,000,000	21.8%

TaxTips.ca - Combined Federal & Newfoundland & Labrador Tax Brackets and Tax Rates
2022 Taxable Income	NL 2022 Marginal Tax Rates				2021 Taxable Income	NL 2021 Marginal Tax Rates
	Other Income	Capital Gains	Canadian Dividends			Other Income	Capital Gains	Canadian Dividends
	Other Income	Capital Gains	Eligible	Non-Eligible		Other Income	Capital Gains	Eligible	Non-Eligible
first $39,147	23.70%	11.85%	3.28%	13.19%	first $38,081	23.70%	11.85%	4.53%	12.85%
over $39,147 up to $50,197	29.50%	14.75%	11.29%	19.86%	over $38,081 up to $49,020	29.50%	14.75%	12.53%	19.52%
over $50,197 up to $78,294	35.00%	17.50%	18.88%	26.19%	over $49,020 up to $76,161	35.00%	17.50%	20.12%	25.84%
over $78,294 up to $100,392	36.30%	18.15%	20.67%	27.68%	over $76,161 up to $98,040	36.30%	18.15%	21.91%	27.34%
over $100,392 up to $139,780	41.80%	20.90%	28.26%	34.01%	over $98,040 up to $135,973	41.80%	20.90%	29.50%	33.66%
over $139,780 up to $155,625	43.80%	21.90%	31.02%	36.31%	over $135,973 up to $151,978	43.30%	21.65%	31.57%	35.39%
over $155,625 up to $195,693	47.18%	23.59%	35.68%	40.20%	over $151,978 up to $190,363	46.62%	23.31%	36.16%	39.21%
over $195,693 up to $221,708	49.18%	24.59%	38.44%	42.50%	over $190,363 up to $216,511	47.62%	23.81%	37.54%	40.36%
over $221,708 up to $250,000	52.80%	26.40%	43.44%	46.66%	over $216,511	51.30%	25.65%	42.61%	44.59%
over $250,000 up to $500,000	53.80%	26.90%	44.82%	47.81%
over $500,000 up to $1,000,000	54.30%	27.15%	45.51%	48.38%
over $1,000,000	54.80%	27.40%	46.20%	48.96%
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 NL dividend tax credits.
Newfoundland & Labrador Basic Personal Amount
2022 Personal Amount	2022 Tax Rate				2021 Personal Amount	2021 Tax Rate
$9,804	8.7%				$9,536	8.7%
Federal Basic Personal Amount
2022 Personal Amount (1)	2022 Tax Rate				2021 Personal Amount (1)	2021 Tax Rate
$14,398	15%				$13,808	15%

(1) See the federal tax rates page for information on the enhanced federal personal amount, which increases the marginal tax rates for taxable incomes in the second highest federal tax bracket. The marginal tax rates in blue above have been adjusted to reflect these changes.

Revised: October 26, 2023