Ads keep this website free for you.
TaxTips.ca does not research or endorse any product or service appearing in ads on this site.  Before making a major financial decision you  should consult a qualified professional.

Nunavut Personal Tax Rates TaxTips.ca
Canadian Tax and
Financial Information
 
Need an accounting, tax or financial advisor? Look in our Directory.  Use above search box to easily find your topic!   Stay Connected with TaxTips.ca!

 

Home  ->  Territories   ->   Nunavut

Tax Rates   ->   Current Marginal Tax Rates -> Nunavut

Nunavut 2023 and 2022 Tax Rates & Tax Brackets

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

Nunavut uses the Federal indexation factor.

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 - Nunavut Tax Rates
2023 Taxable Income 2023 Tax Rates 2022 Taxable Income 2022 Tax Rates
first $50,877 4.0% first $47,862 4.0%
over $50,877 up to $101,754 7.0% over $47,862 up to $95,724 7.0%
over $101,754 up to $165,429 9.0% over $95,724 up to $155,625 9.0%
over $165,429 11.5% over $155,625 11.5%

 

TaxTips.ca - Combined Federal & Nunavut Tax Brackets and Tax Rates
2023 Taxable Income (1) NU 2023 Marginal Tax Rates 2022 Taxable Income (1) NU 2022 Marginal Tax Rates
Other
Income
Capital
Gains
Canadian Dividends Other
Income
Capital
Gains
Canadian Dividends
Eligible Non-Eligible Eligible Non-Eligible
first $50,877 19.00% 9.50% -2.11% 8.46% first $47,862 19.00% 9.50% -2.11% 8.46%
over $50,877 up to $53,359 22.00% 11.00% 2.03% 11.91% over $47,862 up to $50,197 22.00% 11.00% 2.03% 11.91%
over $53,359 up to $101,754 27.50% 13.75% 9.62% 18.24% over $50,197 up to $95,724 27.50% 13.75% 9.62% 18.24%
over $101,754 up to $106,717 29.50% 14.75% 12.38% 20.54% over $95,724 up to $100,392 29.50% 14.75% 12.38% 20.54%
over $106,717 up to $165,429 35.00% 17.50% 19.97% 26.86% over $100,392 up to $155,625 35.00% 17.50% 19.97% 26.86%
over $165,429 up to $235,675 40.82% 20.41% 28.00% 33.56% over $155,625 up to $221,708 40.88% 20.44% 28.08% 33.63%
over $235,675 44.50% 22.25% 33.08% 37.79% over $221,708 44.50% 22.25% 33.08% 37.79%
Marginal tax rate for dividends is a % of actual dividends received (not grossed-up 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 Nunavut dividend tax credits.
Copyright © 2002 Boat Harbour Investments Ltd.
TaxTips.ca
Nunavut Basic Personal Amount
2023 Personal Amount 2023 Tax Rate 2022 Personal Amount 2022 Tax Rate
$17,925 4% $16,862 4%
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

Facebook  | Twitter  |  See What’s New, stay connected with TaxTips.ca by RSS or Email
The information on this site is not intended to be a substitute for professional advice.  Each person's situation differs, and a professional advisor can assist you in using the information on this web site to your best advantage. 
Please see our legal disclaimer regarding the use of information on our site, and our Privacy Policy regarding information that may be collected from visitors to our site.