Marginal Tax Rates

2020 Marginal Personal Income Tax Rates

Taxable Income Federal Ontario Total
0 – $10,783 0.00% 0.00% 0.00%
$10,784 – $13,229 0.00% 5.05% 5.05%
$13,230 – 44,740 15.00% 5.05% 20.05%
$44,741 – 48,535 15.00% 9.15% 24.15%
$48,536 – 87,813 20.50% 9.15% 29.65%
$87,814 – 97,069 20.50% 11.16% 31.66%
$97,070 – 150,473 26.00% 11.16% 37.16%
$150,474 – 150,000 29.00% 11.16% 40.16%
$150,001 – 214,368 29.00% 12.16% 41.16%
$214,369 – 220,000 33.00% 12.16% 45.16%
$220,001 and above 33.00% 13.16% 46.16%

Corporation Income Tax Rates for Canadian Controlled Private Corporations 

effective January 1, 2020

Federal Part I (Active Business Income up to $500,000) 9.00%
Ontario (Active Business Income up to $500,000) 3.20%
Total: 12.20%