Leave a commentOn January 1, 2008 all indexed personal income tax amounts, including tax bracket thresholds and amounts used to calculate non-refundable tax credits, were adjusted by 1.9%. The Canada Child Tax Benefit and the goods and services tax credit were also indexed by 1.9%.
For 2008 the federal tax bracket thresholds are:
- 15% on the first $37,885 of taxable income, plus
- 22% on the next $37,884 of taxable income (on the portion of taxable income between $37,885 and $75,769), plus
- 26% on the next $47,415 of taxable income (on the portion of taxable income between $75,769 and $123,184), plus
- 29% of taxable income over $123,184.