NOTE: PLEASE CROSS REFERENCE THE INFORMATION BELOW WITH REVENUE CANADA OR YOUR TAX LAWYER AND TAX ACCOUNTANT
Source QUEBEC:
http://www.taxtips.ca/qctax.htm
Source ONTARIO:
http://www.taxtips.ca/ontax.htm
INVESTORS: SEE BENEFITS OF INVESTING IN QUEBEC BY VISITING INVESTQUEBEC.COM
* http://www.investquebec.com/en/index.aspx?page=350
EMPLOYMENT INSURANCE (EI) AND QUEBEC PARENTAL INSURANCE PLAN (QPIP),
VISIT PUBLIC WORKS AND GOVERNMENT SERVICES CANADA
* http://www.pwgsc.gc.ca/compensation/cd/cd-2006-033-notice-e.html
PERSONAL INCOME TAX RATES QUEBEC - SEE TABLE BELOW AND ALSO VISIT IMMIGRATION QUEBEC GOVERNMENT PAGE
* http://www.immigration-quebec.gouv.qc.ca/en/choose-quebec/quality-life/cost-living/personal-tax.html
QUEBEC PERSONAL INCOME TAX RATES
Québec/Federal tax brackets
Québec (QC) combined federal & provincial tax rates net of federal tax abatement
|
2007
|
Tax Rate
|
2006 Taxable Income
|
Tax Rate
|
first $29,290
|
28.94%
|
first $28,710
|
28.73%
|
over $29,290 up to $37,178
|
32.94%
|
over $28,710 up to $36,378
|
32.73%
|
over $37,178 up to $58,595
|
38.37%
|
over $36,378 up to $57,430
|
38.37%
|
over $58,595 up to $74,357
|
42.37%
|
over $57,430 up to $72,756
|
42.37%
|
over $74,357 up to $120,887
|
45.71%
|
over $72,756 up to $118,285
|
45.71%
|
over $120,887
|
48.22%
|
over $118,285
|
48.22%
|
QC Minimum Basic Personal Amount
|
2007
|
Tax Rate
|
2006
|
Tax Rate
|
$9,745
|
20.00%
|
$9,555
|
20.00%
|
Federal Basic Personal Amount
|
2007
|
Tax Rate
|
2006
|
Tax Rate
|
$8,929
|
15.50%
|
$8,839
|
15.25%
|
Source: http://www.taxtips.ca/qctax.htm ONTARIO PERSONAL INCOME TAX RATES Ontario (ON) combined federal & provincial tax rates including surtaxes | 2007 Taxable Income | Tax Rate | 2006 Taxable Income | Tax Rate | first $35,488 | 21.55% | first $34,758 | 21.30% | over $35,488 up to $37,178 | 24.65% | over $34,758 up to $36,378 | 24.40% | over $37,178 up to $62,485 | 31.15% | over $36,378 up to $61,206 | 31.15% | over $62,485 up to $70,976 | 32.98% | over $61,206 up to $69,517 | 32.98% | over $70,976 up to $73,625 | 35.39% | over $69,517 up to $72,102 | 35.39% | over $73,625 up to $74,357 | 39.41% | over $72,102 up to $72,756 | 39.41% | over $74,357 up to $120,887 | 43.41% | over $72,756 up to $118,285 | 43.41% | over $120,887 | 46.41% | over $118,285 | 46.41% | ON Surtaxes (included in above rates) | 2007 | 2006 | ON surtax rate | 20% | ON surtax rate | 20% | Surtax is on ON tax greater than | $ 4,100 | Surtax is on ON tax greater than | $ 4,016 | Person with only basic personal amount - surtax starts at taxable income of | $ 62,485 | Person with only basic personal amount - surtax starts at taxable income of | $ 61,206 | | ON surtax rate | 36% | ON surtax rate | 36% | Surtax is on ON tax greater than | $ 5,172 | Surtax is on ON tax greater than | $ 5,065 | Person with only basic personal amount - surtax starts at taxable income of | $ 73,625 | Person with only basic personal amount - surtax starts at taxable income of | $ 72,102 | Note that the 36% surtax is in addition to the 20% surtax, for a total surtax of 56%. | ON Basic Personal Amount | 2007 | Tax Rate | 2006 | Tax Rate | $8,553 | 6.05% | $8,377 | 6.05% | Federal Basic Personal Amount | 2007 | Tax Rate | 2006 | Tax Rate | $8,929 | 15.50% | $8,839 | 15.25% |
Source: http://www.taxtips.ca/ontax.htm |