Tax brackets are the amount of income that is 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 2015 (Click here for income tax rates and brackets for 2014).
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Federal tax rates for 2015
| Income Tax Bracket | Income tax Rate |
| 0 – $44,701 | 15% |
| $44,701.01 – $89,401 | 22% |
| $89,401.01 – $138,586 | 26% |
| $138,586.01 and up | 29% |
Provincial/territorial tax rates and brackets for 2015
Tax for all provinces and territories is calculated the same way as federal tax. Form 428 is used to calculate this provincial or territorial tax (except Quebec).
Alberta: 10% of taxable income
British Columbia rates and brackets
Manitoba income tax rates and brackets
New Brunswick income tax rates and brackets
Newfoundland and Labrador income tax rates and brackets
Northwest Territories income tax rates and brackets
Nova Scotia income tax rates and brackets
Nunavut income tax rates and brackets
Ontario income tax rates and brackets
Prince Edward Island income tax rates and brackets
Quebec income tax rates and brackets
Saskatchewan income tax rates and brackets
Yukon income tax rates and brackets