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The federal indexation factor, tax brackets and tax rates for 2023 have been confirmed to Canada Revenue Agency.
indexation factor, tax brackets and tax rates for 2023 have been confirmed to Quebec
Ministry of Finance information. The Quebec 2023 Budget on March 21, 2023
reduced the tax rate for the bottom 2 tax rates, and reduced the tax rate for
personal tax credits from 15% to 14%.
The Quebec basic personal amount is rounded to the
nearest $1, beginning with the 2018
taxation year. The Quebec tax thresholds are rounded to the nearest
$5. 2017 is the base year for the thresholds and the personal amount.
The marginal tax rates below include the reduction in rate due to the federal tax
abatement of 16.5% of federal tax. However, this abatement is applied to
the net federal tax after deducting the basic personal amount. For this
reason, the federal personal amount tax credit is also reduced by 16.5%.
The Federal personal amount shown below is before the reduction from the federal
(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.