APPENDIX B
|
| Regular (1) | Capital Gains (1) | Eligible Dividends (1) | Non-Eligible Dividends (1)(2) |
|
|
|
|
|
|
| British Columbia (3) | 47.70% | 23.85% | 31.30% | 40.61% |
| Alberta (4) - between $200K and $300K | 47.00% | 23.50% | 30.33% | 39.08% |
| Alberta (4) - above $300K | 48.00% | 24.00% | 31.71% | 40.25% |
| Saskatchewan | 48.00% | 24.00% | 30.33% | 40.06% |
| Manitoba | 50.40% | 25.20% | 37.78% | 45.69% |
| Ontario - over $220K | 53.53% | 26.77% | 39.34% | 45.30% |
| Quebec | 53.31% | 26.65% | 39.83% | 43.84% |
| New Brunswick - between $200K and $250K | 54.00% | 27.00% | 37.23% | 46.19% |
| New Brunswick - over $250K | 58.75% | 29.38% | 43.79% | 51.75% |
| Nova Scotia | 54.00% | 27.00% | 41.58% | 46.77% |
| Prince Edward Island | 51.37% | 25.69% | 34.22% | 43.87% |
| Newfoundland and Labrador (5) | 48.30% | 24.15% | 38.47% | 39.40% |
| Northwest Territories | 47.05% | 23.53% | 28.33% | 35.72% |
| Nunavut | 44.50% | 22.25% | 33.08% | 36.36% |
| Yukon - between $200k and $500K (6) | 45.80% | 22.90% | 21.78% | 37.60% |
| Yukon - over $500K (6) | 48.00% | 24.00% | 24.81% | 40.17% |
|
|
|
|
|
|
1 | Rates are current as of December 9, 2015 and include the proposed Bill C-2 (4% rate increase). Unless otherwise indicated, the above rates apply to the top marginal bracket commencing at $200k. | ||||
2 | The Federal top marginal tax rate on non-eligible dividends will be increasing annually from 2016-2019. | ||||
3 | Rate assumes the 2.1% temporary surtax on income in excess of $150K expired on December 31, 2015. | ||||
4 | For 2015 and later tax years, the previous provincial 10% flat tax will be replaced with a system of progressive rates for those with income in excess of $125K. Transitional rates applied for 2015, with the full rates applying in 2016. | ||||
|
| 2015 | 2016 |
|
|
| up to $150K | 10.00% | 10.00% |
|
|
| $125K-$150K | 10.50% | 12.00% |
|
|
| $150K-$200K | 10.75% | 13.00% |
|
|
| $200K-$300K | 11.00% | 14.00% |
|
|
| $300K+ | 11.25% | 15.00% |
|
|
5 | Effective July 1, 2015, the province of Newfoundland and Labrador has proposed to add two additional tax brackets for income in excess of $125K ($125K-$175K - 14.3%, $175K and higher - 15.3%). Transitional rates applied for 2015. | ||||
|
| 2015 | 2016 |
|
|
| $125K-$175K | 13.80% | 14.30% |
|
|
| $175K+ | 14.30% | 15.30% |
|
|
|
|
|
|
|
|
6 | Effective January 1, 2015, the Yukon has a fifth tax bracket for income in excess of $500K. At income levels below $500,000, the Yukon dividend tax credit on eligible dividends exceeds the Yukon personal tax otherwise payable on the dividend. The rate shown for income between $200,000 and $500,000 assumes that the individual has sufficient Yukon taxes payable on other sources of income to fully benefit from the dividend tax credit. An individual with no other Yukon taxes to offset would pay the Federal tax of 24.81%. | ||||