2025 Tax Rates ( 2024 Rates Below)
Federal Tax Rates Indexing Factor 2.7%
Income Federal tax rate
$15,000–$57,375 15%
$57,375–$114,750 20.5%
$114,750–$177,882 26%
$177,882–$253,414 29%
Above $253,414 33%
2025 Provincial and Territorial Income Tax Rates Coming Soon
2025 Tax Credits
Basic personal $16.129
Spouse or common-law partner $16.129
Eligible dependant amount (same as spouse amount above)
Age amount $9,028
Age Amount Income Threshold $45,522
Canada Employment amount $1,471
Caregiver amount (under 18) $2,687
Caregiver amount (over 18) $8,601
Disability amount $10,138
Medical expense (excess of 3% net income or $2,833
Home Buyer’s Amount $1,500
2025 Unemployment Insurance
EI premium rate 1.64%.
Max insurable earnings $65,700
Maximum employee premium $1,077.48
Employer premiums (unchanged) 1.64 X employee contribution.
Maximum employer premium $1508.47
2025 Canada Pension Plan
CPP Rate 5.95% of yearly annual pensionable earnings
Maximum pensionable earnings $71,300.00
Basic pensionable earnings exemption (unchanged) $3,500.00
Maximum employer & employee contributions $4,034.10
Maximum self-employed contribution $8,068.20
2025 Other
Old Age Security Clawback $93,454
Maximum TFSA Contribution $ 7,000
RRSP contribution limit $32,490
2024 Tax Rates
Federal Tax Rates Indexing Factor 4.7%
Income Federal tax rate
$15,000–$55,867 15%
$55,867–$111,733 20.5%
$111,733–$173,205 26%
$173,205–$246,752 29%
Above $246,752 33%
2024 Provincial and Territorial Income Tax Rates
2024 Tax Credits
Basic personal $15,705
Spouse or common-law partner $15,705
Eligible dependant amount (same as spouse amount above)
Age amount $8,790
Age Amount Income Threshold $44,325
Canada Employment amount $1,433
Caregiver amount (under 18) $2,616
Caregiver amount (over 18) $8,375
Disability amount $9,872
Medical expense (excess of 3% net income or $2,759
Home Buyer’s Amount $1,500
2024 Unemployment Insurance
EI premium rate 1.66%.
Max insurable earnings $63,200.00
Maximum employee premium $1049.12
Employer premiums (unchanged) 1.4 X employee contribution.
Maximum employer premium $1468.67
2024 Canada Pension Plan
CPP Rate 5.95% of yearly annual pensionable earnings
Maximum pensionable earnings $68,500.00
Basic pensionable earnings exemption (unchanged) $3,500.00
Maximum employer & employee contributions $3,867.50
Maximum self-employed contribution $7,735.00
2024 Other
Old Age Security Clawback $90,997
Maximum TFSA Contribution $ 7,000
RRSP contribution limit $31,560
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