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Individual Marginal Tax Rates for Interest—2013
Notes
• This table applies to interest income and includes all federal and provincial taxes and
surtaxes, but does not include provincial health premiums (see the table “Provincial Health
Premiums”). The respective basic personal tax credits are also included in the calculations.
• As more than one rate could apply to a particular bracket due to a difference in the federal
and provincial bracket thresholds, the rate indicated in the table is that which applies
to income in approximately the middle range of the bracket. The table assumes that an
individual has regular income that places the individual in the middle of the above tax
brackets before taking the interest income into account.
For provinces that have a top bracket above the top federal tax bracket, a second rate has
been included in the table. Individuals taxable on income in excess of $150,000 in Nova
Scotia, or on income above $509,000 in Ontario should use this higher rate.
• Significant interest income in addition to the income in the middle range of the bracket
may attract tax at a rate higher than what is shown. Therefore, for purposes of estimating
taxes applicable to this income, the rate in the next bracket should be used in order to be
conservative.
$11,039
to $43,561
$43,562
to $87,123
$87,124
to $135,054
$135,055
and over
British Columbia
23.26%
29.70%
40.70%
43.70%
Alberta
25.00
32.00
36.00
39.00
Saskatchewan
26.00
35.00
39.00
44.00
Manitoba
25.80
34.75
43.40
46.40
Ontario
20.05
31.15
43.41
46.41/49.53
Québec
28.53
38.37
47.46
49.97
New Brunswick
27.39
35.47
40.48
45.08
Nova Scotia
23.79
38.67
43.50
46.50/50.00
P.E.I.
24.80
38.70
44.37
47.37
Newfoundland and
Labrador
22.70
34.50
39.30
42.30
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affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
Current as of September 30, 2013