2008 Income Tax Tables & Tax Rates
Federal tax rates for 2008
- 15% on the first $37,885 of taxable income, +
- 22% on the next $37,884 of taxable income (on the portion of taxable income between $37,885 and $75,769), +
- 26% on the next $47,415 of taxable income (on the portion of taxable income between $75,769 and $123,184), +
- 29% of taxable income over $123,184.
| Use this column if your taxable income is $37,885 or less | Use this column if your taxable income is more than $37,885, but not more than $75,769 | Use this column if your taxable income is more than $75,769, but not more than $123,184 | Use this column if your taxable income is more than $123,184 | ||
| Enter your taxable income from line 260 of your return | 1 |
||||
| Base amount | − 0 | − 37,885 | − 75,769 | − 123,184 |
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 | + 5,683 | + 14,017 | + 26,345 |
6 |
| Add lines 5 and 6 | = | = | = | = |
7 |
Provincial/Territorial tax rates for 2008
| Provinces / Territories | Rate(s) |
|---|---|
| Newfoundland and Labrador | 8.2% on the first $30,215 of taxable income, + 13.3% on the next $30,214, + 16% on the amount over $60,429 |
| Prince Edward Island | 9.8% on the first $31,984 of taxable income, + 13.8% on the next $31,985, + 16.7% on the amount over $63,969 |
| 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 $34,836 of taxable income, + 15.48% on the next $34,837, + 16.8% on the next $43,600, + 17.95% on the amount over $113,273 |
| Ontario | 6.05% on the first $36,020 of taxable income, + 9.15% on the next $36,021, + 11.16% on the amount over $72,041 |
| Manitoba | 10.9% on the first $30,544 of taxable income, + 12.75% on the next $35,456, + 17.4% on the amount over $66,000 |
| Saskatchewan | 11% on the first $39,135 of taxable income, + 13% on the next $72,679, + 15% on the amount over $111,814 |
| Alberta | 10% of taxable income |
| British Columbia | 5.06% on the first $35,016 of taxable income, + 7.7% on the next $35,017, + 10.5% on the next $10,373, + 12.29% on the next $17,230, + 14.7% on the amount over $97,636 |
| Yukon | 7.04% on the first $37,885 of taxable income, + 9.68% on the next $37,884, + 11.44% on the next $47,415, + 12.76% on the amount over $123,184 |
| Northwest Territories | 5.9% on the first $35,986 of taxable income, + 8.6% on the next $35,987, + 12.2% on the next $45,038, + 14.05% on the amount over $117,011 |
| Nunavut | 4% on the first $37,885 of taxable income, + 7% on the next $37,885, + 9% on the next $47,414, + 11.5% on the amount over $123,184 |