2007 Income Tax Tables & Tax Rates
Federal tax rates for 2007
- 15% on the first $37,178 of taxable income, +
- 22% on the next $37,179 of taxable income (on the portion of taxable income between $37,178 and $74,357), +
- 26% on the next $46,530 of taxable income (on the portion of taxable income between $74,357 and $120,887), +
- 29% of taxable income over $120,887.
| Use this column if your taxable income is $37,178 or less | Use this column if your taxable income is more than $37,178, but not more than $74,357 | Use this column if your taxable income is more than $74,357, but not more than $120,887 | Use this column if your taxable income is more than $120,887 | ||
| Enter your taxable income from line 260 of your return |
1 |
||||
| Base amount | − 0 | − 37,178 | − 74,357 | − 120,887 |
2 |
| Line 1 minus line 2 (this amount cannot be negative) | = | = | = | = |
3 |
| Federal tax rate | × 15% | × 22% | × 26% | × 29% |
4 |
| Multiply the amount on line 3 by the tax rate on line 4 | = | = | = | = |
5 |
| Tax on the amount from line 2 | + 0 | + 5,577 | + 13,756 | + 25,854 |
6 |
| Add lines 5 and 6 | = | = | = | = |
7 |
Provincial/Territorial tax rates for 2007
| Provinces / Territories | Rate(s) |
|---|---|
| Newfoundland and Labrador | 9.64% on the first $29,886 of taxable income, + 14.98% on the next $29,886, + 17.26% on the amount over $59,772 |
| Prince Edward Island | 9.8% on the first $31,369 of taxable income, + 13.8% on the next $31,370, + 16.7% on the amount over $62,739 |
| Nova Scotia | 8.79% on the first $29,590 of taxable income, + 14.95% on the next $29,590, + 16.67% on the next $33,820 + 17.5% on the amount over $93,000 |
| New Brunswick | 10.12% on the first $34,186 of taxable income, + 15.48% on the next $34,188, + 16.8% on the next $42,787, + 17.95% on the amount over $111,161 |
| Ontario | 6.05% on the first $35,488 of taxable income, + 9.15% on the next $35,488, + 11.16% on the amount over $70,976 |
| Manitoba | 10.9% on the first $30,544 of taxable income, + 13% on the next $34,456, + 17.4% on the amount over $65,000 |
| Saskatchewan | 11% on the first $38,405 of taxable income, + 13% on the next $71,324, + 15% on the amount over $109,729 |
| Alberta | 10% of taxable income |
| British Columbia | 5.7% on the first $34,397 of taxable income, + 8.65% on the next $34,397, + 11.1% on the next $10,190, + 13% on the next $16,925, + 14.7% on the amount over $95,909 |
| Yukon | 7.04% on the first $37,178 of taxable income, + 9.68% on the next $37,179, + 11.44% on the next $46,530, + 12.76% on the amount over $120,887 |
| Northwest Territories | 5.9% on the first $35,315 of taxable income, + 8.6% on the next $35,316, + 12.2% on the next $44,199, + 14.05% on the amount over $114,830 |
| Nunavut | 4% on the first $37,178 of taxable income, + 7% on the next $37,179, + 9% on the next $46,530, + 11.5% on the amount over $120,887 |