Income Brackets 2024 Canada. Estimate your income taxes with our free canada income tax calculator. Learn how the new tax bracket thresholds and indexed rates may impact your tax bill.
The federal tax brackets and personal tax credit amounts are increased for 2024 by an indexation factor of 1.047 (a 4.7% increase). Most taxpayers in canada are eligible to claim the federal basic personal amount of $15,705 on their 2024 taxes, which reduces taxable income, if their net income is.