The following table lists the income tax rates and brackets in Ontario for 2014. It is based on taxable income.
Income Tax Bracket | Income tax Rate |
0 – $40,120 | 5.05% |
$40,120.01 – $80,242 | 9.15% |
$80,242.01 – $514,090 | 11.16% |
$514,090.01 and up | 13.16% |