The Personal Income Tax Rate in Canada stands at 33 percent. source: Canada Revenue Agency

Personal Income Tax Rate in Canada averaged 30.11 percent from 2003 until 2020, reaching an all time high of 33 percent in 2016 and a record low of 29 percent in 2004. This page provides - Canada Personal Income Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Personal Income Tax Rate - values, historical data and charts - was last updated on October of 2021.

Personal Income Tax Rate in Canada is expected to reach 33.00 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Personal Income Tax Rate is projected to trend around 33.00 percent in 2021, according to our econometric models.

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Canada Personal Income Tax Rate

Canada Last Unit Reference Previous Highest Lowest
Corporate Tax Rate 26.50 percent Dec/21 26.50 50.90 26.10
Personal Income Tax Rate 33.00 percent Dec/21 33.00 33.00 29.00
Sales Tax Rate 5.00 percent Dec/21 5.00 7.00 5.00
Social Security Rate 14.38 percent Dec/21 14.09 14.95 7.90
Social Security Rate For Companies 7.66 percent Dec/21 7.37 7.90 4.30
Social Security Rate For Employees 6.72 percent Dec/21 6.72 7.05 3.60

Canada Personal Income Tax Rate
In Canada, the Personal Income Tax Rate refers to the Top Marginal Federal Tax Rate applied on taxable income over CAD 138,586. The individuals are also subjected to at least 15 percent provincial tax rate. Revenues from the Personal Income Tax Rate are an important source of income for the government of Canada.