Federal tax rates for 2012

15% on the first $42,707 of taxable income, +
22% on the next $42,707 of taxable income (on the portion of taxable income over $42,707 up to $85,414), +
26% on the next $46,992 of taxable income (on the portion of taxable income over $85,414 up to $132,406), +
29% of taxable income over $132,406.

Provincial/territorial tax rates (combined chart)
Provinces/territories Rate(s)

Newfoundland and Labrador 7.7% on the first $32,893 of taxable income, +
12.5% on the next $32,892, +
13.3% on the amount over $65,785

Prince Edward Island 9.8% on the first $31,984 of taxable income, +
13.8% on the next $31,985, +
16.7% on the amount over $63,969

Nova Scotia 8.79% on the first $29,590 of taxable income, +
14.95% on the next $29,590, +
16.67% on the next $33,820, +
17.5% on the next $57,000, +
21% on the amount over $150,000

New Brunswick 9.1% on the first $38,190 of taxable income, +
12.1% on the next $38,190, +
12.4% on the next $47,798, +
14.3% on the amount over $124,178

Quebec See Income tax rates (Revenu Québec Web site).

Ontario 5.05% on the first $39,020 of taxable income, +
9.15% on the next $39,023, +
11.16% on the amount over $78,043

Manitoba 10.8% on the first $31,000 of taxable income, +
12.75% on the next $36,000, +
17.4% on the amount over $67,000

Saskatchewan 11% on the first $42,065 of taxable income, +
13% on the next $78,120, +
15% on the amount over $120,185

Alberta 10% of taxable income

British Columbia 5.06% on the first $37,013 of taxable income, +
7.7% on the next $37,015, +
10.5% on the next $10,965, +
12.29% on the next $18,212, +
14.7% on the amount over $103,205

Yukon 7.04% on the first $42,707 of taxable income, +
9.68% on the next $42,707, +
11.44% on the next $46,992, +
12.76% on the amount over $132,406

Northwest Territories 5.9% on the first $38,679 of taxable income, +
8.6% on the next $38,681, +
12.2% on the next $48,411, +
14.05% on the amount over $125,771

Nunavut 4% on the first $40,721 of taxable income, +
7% on the next $40,721, +
9% on the next $50,964, +
11.5% on the amount over $132,406

http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html

laundry_queen

(8,646 posts)

7. The poster is right

Reply to SmileyRose (Reply #3)

Thu Oct 11, 2012, 10:16 PM

Oct 2012

There are also different tax rates for different business types (small business, manufacturing etc). In Alberta the combined rate is 26.5% for 'general' business and Alberta is one of the most competitive rates in the country. It IS still lower than the US average, however, but there aren't the same loopholes, and CRA (Canada Revenue Agency) has different rules than the US does.

cognoscere

(461 posts)

4. That's how Republicons roll. They say something that has a small percentage of truth so it can be

Reply to Lucy Goosey (Original post)

Thu Oct 11, 2012, 10:08 PM

Oct 2012

proven true. Unfortunately, about a third of Americans do not know that half truths, or in the cons case, partial truths, are still considered lies.

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