The following table lists the income tax rates and brackets in Ontario for 2015. It is based on taxable income.
Income Tax Bracket | Income tax Rate |
0 – $40,922 | 5.05% |
$40,922.01 – $81,847 | 9.15% |
$81,847.01 – $150,000 | 11.16% |
$150,000.01 – $220,000 | 12.16% |
$220,090.01 and up | 13.16% |