The 2022 Tax Tables and 2022 Tax Brackets are provided below for each Province/ Territory along with the Federal Tax Brackets for 2022. You can also see the rates and bands without the Personal Allowance. Canadian individuals pay taxes at graduated rates, meaning that your rate of tax gets progressively higher as your taxable income increases. 2022 Canada Federal, Provicial and Territorial Tax Tables The annual tax bracket is indexed to inflation, and for the 2022 tax year, the indexation factor is 1.021. 2022 Federal income tax bracket 2022 Federal income tax rate 50,197 or less: 15: 50,198 to 100,392: 20. The 2022 Canada Tax return is completed as one single calculation (except Quebec) with the total tax calculations, tax credits and exemptions centralised to simply tax calculations and 2022 tax returns. The lowest tax rate in Manitoba kicks in at 10.80 and applies to your taxable income up to 34,431. The indexation factors, tax brackets and tax rates for 2023 have been confirmed to Canada Revenue Agency information. See Indexation of the Personal Income Tax System for how the indexation factors are calculated. In Canada in 2022, this reduction (10.1 percentage points) was greater than the OECD average (8.9 percentage points). The 2022 Tax Year in Canada runs from January 2022 to December 2022 with individual tax returns due no later than the following April 30 th 2023.ΔΆ022 Income Tax in Canada is calculated separately for Federal tax commitments and Province Tax commitments depending on where the individual tax return is filed in 2022 (due to work / location). The Federal tax brackets and personal tax credit amounts are increased for 2023 by an indexation factor of 1.063 (6.3 increase).
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