28 December 2016
According to the latest update to the indexation adjustment table from the Canada Revenue Agency, the federal personal income tax brackets and rates for 2017 will be as follows:
In addition to federal income tax, personal income is also subject to tax at the provincial/territorial level, resulting in a top progressive rate of up to 54% depending on the province/territory.
Note - From the 2016 tax year, the second bracket rate is reduced from 22% to 20.5% and a new top bracket of 33% is added. The legislation for the changes (Bill C-2) received royal assent on 15 December 2016.
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