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Tax Rates   ->   Current Marginal Tax Rates -> Northwest Territories

Northwest Territories 2023 & 2022 Tax Rates & Tax Brackets

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

Northwest Territories uses the Federal indexation factor to increase their tax brackets and personal tax credit amounts.

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 - Northwest Territories Tax Rates
 2023 Taxable Income  2023 Tax Rates 2022 Taxable Income 2022 Tax Rates
first $48,326 5.90% first $45,462 5.90%
over $48,326 up to $96,655 8.60% over $45,462 up to $90,927 8.60%
over $96,655 up to $157,139 12.20% over $90,927 up to $147,826 12.20%
over $157,139 14.05% over $147,826 14.05%

 

TaxTips.ca - Combined Federal & Northwest Territories Tax Brackets and Tax Rates
 2023 Taxable Income (1) NT 2023 Marginal Tax Rates 2022 Taxable Income (1) NT 2022 Marginal Tax Rates
Other
Income
Capital
Gains
Canadian Dividends Other
Income
Capital
Gains
Canadian Dividends
Eligible Non-Eligible Eligible Non-Eligible
first $48,326 20.90% 10.45% -7.76% 6.75% first $45,462 20.90% 10.45% -7.76% 6.75%
over $48,326 up to $53,359 23.60% 11.80% -4.03% 9.86% over $45,462 up to $50,197 23.60% 11.80% -4.03% 9.86%
over $53,359 up to $96,655 29.10% 14.55% 3.56% 16.18% over $50,197 up to $90,927 29.10% 14.55% 3.56% 16.18%
over $96,655 up to $106,717 32.70% 16.35% 8.53% 20.32% over $90,927 up to $100,392 32.70% 16.35% 8.53% 20.32%
over $106,717 up to $157,139 38.20% 19.10% 16.12% 26.65% over $100,392 up to $147,826 38.20% 19.10% 16.12% 26.65%
over $157,139 up to $165,430 40.05% 20.03% 18.67% 28.77% over $147,826 up to $155,625 40.05% 20.03% 18.67% 28.77%
over $165,430 up to $235,675 43.37% 21.69% 23.25% 32.59% over $155,625 up to $221,708 43.43% 21.72% 23.33% 32.66%
over $235,675 47.05% 23.53% 28.33% 36.82% over $221,708 47.05% 23.53% 28.33% 36.82%
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 Northwest Territories dividend tax credits.
Copyright © 2002 Boat Harbour Investments Ltd.
TaxTips.ca
Northwest Territories Basic Personal Amount
2023 Personal Amount 2023 Tax Rate 2022 Personal Amount 2022 Tax Rate
$16,593 5.90% $15,609 5.90%
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.

Copyright © 2002 Boat Harbour Investments Ltd.

Revised: November 30, 2022

 

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

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