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Ontario Personal Tax Rates

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

Ontario 2020 and 2019 Personal Marginal Income Tax Rates

Please read the article Understanding the Tables of Personal Income Tax Rates.

The Federal and Ontario tax brackets and personal amounts are increased for 2020 by an indexation factor of 1.019, except for the Ontario $150,000 and $220,000 bracket amounts, which are not indexed for inflation.  The indexation factors, tax brackets and tax rates have not yet been confirmed to Canada Revenue Agency information.

Ontario Personal Income Tax Brackets and Tax Rates

2020 Taxable Income 2020 Tax Rates 2019 Taxable Income 2019 Tax Rates
first $44,740 5.05% first $43,906 5.05%
over $44,740 up to $89,482 9.15% over $43,906 up to $87,813 9.15%
over $89,482 up to $150,000 11.16% over $87,813 up to $150,000 11.16%
over $150,000 up to $220,000 12.16% over $150,000 up to $220,000 12.16%
over $220,000 13.16% over $220,000 13.16%

Combined Federal & Ontario Tax Brackets and Tax Rates Including Surtaxes

2020 Taxable Income 2020 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 $44,740 20.05% 10.03% -6.86% 9.24% first $43,906 20.05% 10.03% -6.86% 8.89%
over $44,740 up to $48,535 24.15% 12.08% -1.20% 13.95% over $43,906 up to $47,630 24.15% 12.08% -1.20% 13.61%
over $48,535 up to $78,783 29.65% 14.83% 6.39% 20.28% over $47,630 up to $77,313 29.65% 14.83% 6.39% 19.93%
over $78,783 up to $89,482 31.48% 15.74% 8.92% 22.38% over $77,313 up to $87,813 31.48% 15.74% 8.92% 22.04%
over $89,482 up to $92,825 33.89% 16.95% 12.24% 25.16% over $87,813 up to $91,101 33.89% 16.95% 12.24% 24.81%
over $92,825 up to $97,069 37.91% 18.95% 17.79% 29.78% over $91,101 up to $95,259 37.91% 18.95% 17.79% 29.43%
over $97,069 up to $150,000 43.41% 21.70% 25.38% 36.10% over $95,259 up to $147,667 43.41% 21.70% 25.38% 35.76%
over $150,000 up to $150,473 44.97% 22.48% 27.53% 37.90% over $147,667 up to $150,000 46.41% 23.20% 29.52% 39.21%
over $150,473 up to $214,368 47.97% 23.98% 31.67% 41.35% over $150,000 up to $210,371 47.97% 23.98% 31.67% 41.00%
over $214,368 up to $220,000 51.97% 25.98% 37.19% 45.95% over $210,371 up to $220,000 51.97% 25.98% 37.19% 45.60%
over $220,000 53.53% 26.76% 39.34% 47.74% over $220,000 53.53% 26.76% 39.34% 47.40%

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%.
The surtax is calculated before deducting dividend tax credits.
For more information see Ontario dividend tax credits.
Marginal tax rates do not include the Ontario Health Premium, which increases the above rates by up to 1.2%

Ontario Surtaxes

2020 2019
Surtax rate (included in above rates) 20% 36% Surtax rate (included in above rates) 20% 36%
Surtax is on ON tax greater than $4,830 $6,182 Surtax is on ON tax greater than $4,740 $6,067
Person with only basic personal amount - surtax starts at taxable income of $78,783 $92,825 Person with only basic personal amount - surtax starts at taxable income of $77,313 $91,101

The 36% surtax is in addition to the 20% surtax, for a total surtax of 56%.
The surtax increases the 13.16% tax rate to 20.53% (13.16% x 1.56).
Surtaxes are calculated before deducting dividend tax credits.

Ontario Basic Personal Amount

2020 Personal Amount 2020 Tax Rate 2019 Personal Amount 2019 Tax Rate
$10,783 5.05% $10,582 5.05%

Federal Basic Personal Amount

2020 Personal Amount 2020 Tax Rate 2019 Personal Amount 2019 Tax Rate
$12,298 15% $12,069 15%
 

Copyright © 2002 Boat Harbour Investments Ltd.



Revised: November 09, 2019

 

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