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

BC 2021 and 2020 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 tax credit amounts are increased for 2021 by an indexation factor of 1.010.

The BC tax brackets and personal tax credit amounts are increased for 2021 by an indexation factor of 1.011.

The indexation factors, tax brackets and tax rates have not yet been confirmed to Canada Revenue Agency information.

The BC 2020 Budget added a new high tax bracket for 2020 for taxable incomes over $220,000, which is indexed after 2020.

British Columbia Personal Income Tax Brackets and Tax Rates
2021 Taxable Income 2021 Tax Rates 2020 Taxable Income 2020 Tax Rates
first $42,184 5.06% first $41,725 5.06%
over $42,184 up to $84,370 7.70% over $41,725 up to $83,451 7.70%
over $84,370 up to $96,867 10.50% over $83,451 up to $95,812 10.50%
over $96,867 up to $117,624 12.29% over $95,812 up to $116,344 12.29%
over $117,624 up to $159,483 14.70% over $116,344 up to $157,748 14.70%
over $159,483 up to $222,420 16.80% over $157,748 up to $220,000 16.80%
over $222,420 20.50% over $220,000 20.50%

 

Combined Federal & British Columbia Tax Brackets and Tax Rates
2021 Taxable Income 2021 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 $42,184 20.06% 10.03% -9.60% 10.43% first $41,725 20.06% 10.03% -9.60% 10.43%
over $42,184 up to $49,020 22.70% 11.35% -5.96% 13.47% over $41,725 up to $48,535 22.70% 11.35% -5.96% 13.47%
over $49,020 up to $84,370 28.20% 14.10% 1.63% 19.80% over $48,535 up to $83,451 28.20% 14.10% 1.63% 19.80%
over $84,370 up to $96,867 31.00% 15.50% 5.49% 23.02% over $83,451 up to $95,812 31.00% 15.50% 5.49% 23.02%
over $96,867 up to $98,040 32.79% 16.40% 7.96% 25.07% over $95,812 up to $97,069 32.79% 16.40% 7.96% 25.07%
over $98,040 up to $117,624 38.29% 19.15% 15.55% 31.40% over $97,069 up to $116,344 38.29% 19.15% 15.55% 31.40%
over $117,624 up to $151,978 40.70% 20.35% 18.88% 34.17% over $116,344 up to $150,473 40.70% 20.35% 18.88% 34.17%
over $151,978 up to $159,483 44.02% 22.01% 23.46% 37.99% over $150,473 up to $157,748 43.92% 21.96% 23.32% 37.87%
over $159,483 up to $216,511 46.12% 23.06% 26.36% 40.41% over $157,748 up to $214,368 46.02% 23.01% 26.22% 40.29%
over $216,511 up to $222,420 49.80% 24.90% 31.44% 44.64% over $214,368 up to $220,000 49.80% 24.90% 31.44% 44.64%
over $222,420 53.50% 26.75% 36.54% 48.89% 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
2021 Personal Amount 2021 Tax Rate 2020 Personal Amount 2020 Tax Rate
$11,069 5.06% $10,949 5.06%
Federal Basic Personal Amount
2021 Personal Amount (1) 2021 Tax Rate 2020 Personal Amount (1) 2020 Tax Rate
$13,808 15% $13,229 15%

(1) See the federal tax rates page for information on the federal personal amount increase.

The marginal tax rates above have been adjusted to reflect these changes.

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

Revised: October 22, 2020

 

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

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