What Are The 2024 Tax Brackets In Canada. Information for individuals and businesses on rates such as federal and provincial/territorial tax rates, prescribed interest rates, ei rates, corporation tax rates, excise tax rates, and more. Here is a comparison of the provincial and territorial income tax brackets and rates for 2024 and 2025:

In 2024, the first $55,867 would be taxed at 15 per cent ($8,380.05) while the remaining portion would be taxed at 20.5 per cent ($847.26). Understanding canada’s tax brackets for 2024 is key to preparing for tax season and ensuring you minimize any surprises.