2012 Tax System Indexation

On January 1, 2012, all indexed personal income tax amounts, including tax bracket thresholds and amounts used to calculate non-refundable tax credits, were adjusted by 2.8%. The Canada Child Tax Benefit and the goods and services tax credit will take effect July 1, 2012.
For 2012 the federal tax bracket thresholds are:

  • 22% for taxable income above $42,707
  • 26% for taxable income above $85,414 ; and
  • 29% for taxable income above $132,406.

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