What are the income tax rates in Canada for 2013?
These are the rates that an individual will use when completing their 2013 income tax and benefit return. The information may change during the year to reflect updates to the law.Federal tax rates for 2013
15% on the first
$43,561 of taxable income, +
22% on the next
$43,562 of taxable income (on the portion of taxable income over $43,561 up to $87,123), +
26% on the next
$47,931 of taxable income (on the portion of taxable income over $87,123 up to $135,054), +
29% of taxable income over
$135,054.Provincial/territorial tax rates for 2013
Tax for all provinces (except Quebec) and territories is calculated the same way as federal tax.
Form 428 is used to calculate this provincial or territorial tax. Provincial or territorial specific non-refundable tax credits are also calculated on Form 428.
To know the provincial tax rate, visit: http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html
For a more elaborate tax calculator: http://www.taxtips.ca/calculators/taxcalculator.htm
For beginners, to learn more about Taxes, visit the free educational program: http://www.cra-arc.gc.ca/tx/ndvdls/dctrs/lrn-tx/menu-eng.html
You can also find a video series on Preparing your income tax and benefit return at: http://www.cra-arc.gc.ca/vdgllry/ndvdls/srs-prprngrtrn-eng.html?vclp=ndvdls/srs-prprngrtrn1-eng
Hope it helps.