Maroof HS CPA Professional Corporation, Toronto

2021 – Individual Income Tax Rates – Federal, Ontario & Alberta

Individual income tax rates 2021 and 2022 for Ontario and Alberta in Canada/

2021 Individual income tax rates - Federal

2021 Taxable Income (C$)Tax Rate - Federal
less than 49,02015.00%
49,021 - 98,04020.50%
98,041 - 151,97826.00%
151,979 - 216,51129.00%
216,512+33.00%

2021 Individual Income tax rates - Ontario

2021 Taxable Income (C$)Tax Rate - Ontario
less than 45,1425.05%
45,143 - 90,2879.15%
90,288 - 150,00011.16%
150,001 - 220,00012.16%
220,001+13.16%

2021 Individual income tax rates - Federal

2021 Taxable Income (C$)Tax Rate - Federal
less than 49,02015.00%
49,021 - 98,04020.50%
98,041 - 151,97826.00%
151,979 - 216,51129.00%
216,512+33.00%

Dividend Gross up & Tax Credit Rates Canada - 2021

 Non-Eligible DividendsEligible Dividends
Dividend gross up rate15%38%
Dividend Tax Credit - Federal (as % of grossed-up taxable dividend)9.0301%15.0198%
Dividend Tax Credit - Federal (as% of actual dividend)10.3846%20.73%
Dividend Tax Credit - Ontario (as % of grossed-up taxable dividend)2.9863%10.0%
Dividend Tax Credit - Ontario (as % of actual dividend)3.434%13.8%
Dividend Tax Credit - Alberta (as % of grossed-up taxable dividend)2.18%8.12%
Dividend Tax Credit - Alberta (as % of actual dividend)2.507%11.20%
The actual amount of Dividends before any regular income taxes are payable - Federal
(Caution: AMT is applicable on Eligible dividends)
$30,172$63,040 (AMT applies)
The actual amount of Dividends before any regular income taxes are payable - Ontario
(Caution: AMT is applicable on Eligible dividends)
$33,733$95,807 (AMT applies)
The actual amount of Dividends before any regular income taxes are payable - Alberta
(Caution: AMT is applicable on Eligible dividends)
$21,541$74,667 (AMT applies)
Fatima Aslam

Fatima Aslam

Fatima Aslam writes exclusively for Maroof HS CPA Professional Corporation and Innovation Hub on common topics related to business.

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Fatima Aslam

Fatima Aslam

Fatima Aslam writes exclusively for Maroof HS CPA Professional Corporation and Innovation Hub on common topics related to business.

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