Canadian Federal Tax Rates 2024: Brackets and Personal Income Tax
Canadian federal personal income tax rates for 2024.
Federal Tax Brackets 2024
| Taxable Income | Rate |
|---|---|
| First $55,867 | 15% |
| $55,867 - $111,733 | 20.5% |
| $111,733 - $173,205 | 26% |
| $173,205 - $246,752 | 29% |
| Above $246,752 | 33% |
Basic Personal Amount
2024 BPA: $15,705 (federal)
This amount is reduced for incomes above $173,205.
Combined Federal-Provincial Rates
Combined rates (with provincial) typically range from 20% to 54% depending on province and income.
Key Points
- Federal rates are progressive
- BPA reduces tax for low earners
- Provincial rates vary by province
