What are the income tax rates and brackets for 2012

Tax brackets are the amount of income that's subject to specific income tax rate. The income means the taxable income that is after you take off allowable deductions from your total income. Here are the income tax rates and brackets for 2012.

 

Federal tax rates for 2012

Income Tax Bracket Income tax Rate
0 - $42,707 15%
$42,707.01 - $85,414 22%
$85,414.01 - $132,406 26%
$132,406.01 and up 29%

 

Provincial/territorial tax rates and brackets for 2012

Provincial/territorial tax rates and brackets for 2012. Tax for all provinces (except Quebec, rate is not listed below) and territories is calculated the same way as federal tax. Form 428 is used to calculate this provincial or territorial tax.

Alberta

10% on taxable income

British Columbia
 

Income Tax Bracket Income tax Rate
0 - $37,013 5.06%
$37,013.01 - $74,028 7.7%
$74,028.01 - $84,993 10.5%
$84,993.01 - $103,205 12.29%
$103,205.01 and up 14.70%

 

Manitoba

Income Tax Bracket Income tax Rate
0 - $31,000 10.8%
$31,000.01 - $67,000 12.75%
$67,000.01 and up 17.40%

 

New Brunswick

Income Tax Bracket Income tax Rate
0 - $38,190 9.1%
$38,190.01 - $76,380 12.1%
$76,380.01 - $124,178 12.4%
$124,178.01 and up 14.3%

 

Newfoundland and Labrador

Income Tax Bracket Income tax Rate
0 - $32,893 7.7%
$32,893.01 - $65,785 12.5%
$65,785.01 and up 13.3%

 

Nova Scotia

Income Tax Bracket Income tax Rate
0 - $29,590 8.79%
$29,590.01 - $59,180 14.95%
$59,180.01 - $93,000 16.67%
$93,000.01 - $150,000 17.5%
$150,000.01 and up 21%

 

Northwest Territories

Income Tax Bracket Income tax Rate
0 - $38,679 5.9%
$38,679.01 - $77,360 8.6%
$77,360.01 - $125,771 12.2%
$125,771.01 and up 14.05%
 

 Nunavut

Income Tax Bracket Income tax Rate
0 - $40,721 4%
$40,721.01 - $81,442 7%
$81,442.01 - $132,406 9%
$132,406.01 and up 11.5%
 

 Ontario

Income Tax Bracket Income tax Rate
0 - $39,020 5.05%
$39,020.01 - $78,043 9.15%
$78,043.01 and 50,000 11.16%
$50,000.01 and up 12.16%

 

Prince Edward Island

Income Tax Bracket Income tax Rate
0 - $31,984 9.8%
$31,984.01 - $63,969 13.8%
$63,969.01 and up 16.7%

 

Saskatchewan

Income Tax Bracket Income tax Rate
0 - $42,065 11%
$42,065.01 - $120,185 13%
$120,185.01 and up 15%

 

Yukon

Income Tax Bracket Income tax Rate
0 - $42,707 7.04%
$42,707.01 - $85,414 9.68%
$85,414.01 - $132,406 11.44%
$132,406.01 and up 12.76%

Income tax rates and brackets for 2013

Additional information