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

BC 2023 and 2022 Tax Rates & Tax Brackets

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

The BC tax brackets and personal tax credit amounts are increased for 2023 by an indexation factor of 1.06 (6% increase).

The Federal tax brackets and personal tax credit amounts are increased for 2023 by an indexation factor of 1.063 (6.3% increase).

See Indexation of the Personal Income Tax System for how the indexation factors are calculated.

The indexation factors, tax brackets and tax rates for 2023 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 - BC Tax Rates
2023 Taxable Income 2023 Tax Rates 2022 Taxable Income 2022 Tax Rates
first $45,654 5.06% first $43,070 5.06%
over $45,654 up to $91,310 7.70% over $43,070 up to $86,141 7.70%
over $91,310 up to $104,835 10.50% over $86,141 up to $98,901 10.50%
over $104,835 up to $127,299 12.29% over $98,901 up to $120,094 12.29%
over $127,299 up to $172,602 14.70% over $120,094 up to $162,832 14.70%
over $172,602 up to $240,716 16.80% over $162,832 up to $227,091 16.80%
over $240,716 20.50% over $227,091 20.50%

 

TaxTips.ca - Combined Federal & BC Tax Brackets and Tax Rates
2023 Taxable Income (1) BC 2023 Marginal Tax Rates 2022 Taxable Income (1) BC 2022 Marginal Tax Rates
Other
Income
Capital
Gains
Canadian Dividends Other
Income
Capital
Gains
Canadian Dividends
Eligible Non-Eligible Eligible Non-Eligible
first $45,654 20.06% 10.03% -9.60% 10.43% first $43,070 20.06% 10.03% -9.60% 10.43%
over $45,654 up to $53,359 22.70% 11.35% -5.96% 13.47% over $43,070 up to $50,197 22.70% 11.35% -5.96% 13.47%
over $53,359 up to $91,310 28.20% 14.10% 1.63% 19.80% over $50,197 up to $86,141 28.20% 14.10% 1.63% 19.80%
over $91,310 up to $104,835 31.00% 15.50% 5.49% 23.02% over $86,141 up to $98,901 31.00% 15.50% 5.49% 23.02%
over $104,835 up to $106,717 32.79% 16.40% 7.96% 25.07% over $98,901 up to $100,392 32.79% 16.40% 7.96% 25.07%
over $106,717 up to $127,299 38.29% 19.15% 15.55% 31.40% over $100,392 up to $120,094 38.29% 19.15% 15.55% 31.40%
over $127,299 up to $165,430 40.70% 20.35% 18.88% 34.17% over $120,094 up to $155,625 40.70% 20.35% 18.88% 34.17%
over $165,430 up to $172,602 44.02% 22.01% 23.46% 37.99% over $155,625 up to $162,832 44.08% 22.04% 23.54% 38.06%
over $172,602 up to $235,675 46.12% 23.06% 26.36% 40.41% over $162,832 up to $221,708 46.18% 23.09% 26.44% 40.48%
over $235,675 up to $240,716 49.80% 24.90% 31.44% 44.64% over $221,708 up to $227,091 49.80% 24.90% 31.44% 44.64%
over $240,716 53.50% 26.75% 36.54% 48.89% over $227,091 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.
TaxTips.ca
British Columbia Basic Personal Amount
2023 Personal Amount 2023 Tax Rate 2022 Personal Amount 2022 Tax Rate
$11,981 5.06% $11,302 5.06%
Federal Basic Personal Amount
2023 Personal Amount (1) 2023 Tax Rate 2022 Personal Amount (1) 2022 Tax Rate
$15,000 15% $14,398 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.

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

Revised: November 30, 2022

 

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