2014 Ontario Personal Income Tax Rates

Ontario Tax Rates 2014

Ontario Tax Rates 2014

2014 Ontario Personal Income Tax Rates

As with other years the Ontario government has changed some of the tax brackets and rates for 2014. The major changes were:

  • Lowered the taxable income threshold for the 13.16% tax rate from $514,090 to 220,000
  • Added a new tax rate of 12.16% on taxable income between $150,000 to $220,000

2014 Ontario Personal Income Tax Brackets and Tax Rates
2014 Bracket Number 2014 Tax Bracket 2014 Tax Rate
1st income bracket Up to $40,120 5.05%
2nd income bracket Greater than $40,120 up to $80,242 9.15%
3rd income bracket Greater than $80,242 up to $150,000 11.16%
4th income bracket Greater than $150,000 up to $220,000 12.16%
5th income bracket Greater than $220,000 13.16%
2014 Federal Personal Income Tax Brackets and Tax Rates
2014 Bracket Number 2014 Tax Bracket 2014 Tax Rate
1st income bracket Up to $43,953 15.00%
2nd income bracket Greater than $43,953 up to $87,907 22.00%
3rd income bracket Greater than $87,907 up to $136,270 26.00%
4th income bracket Greater than $136,270 29.00%

 

2014 Combined Personal Income Tax Brackets and Tax Rates
Tax Bracket ONTARIO Tax ONTARIO Surtax  Federal Tax Combined Tax
Up to $40,120 5.05% 0.00% 15.00% 20.05%
Greater than $40,120 up to $43,953 9.15% 0.00% 15.00% 24.15%
Greater than $43,953 up to $70,651 9.15% 0.00% 22.00% 31.15%
Greater than $70,651 up to $80,242 9.15% 1.83% 22.00% 32.98%
Greater than $80,242 up to $83,237 11.16% 2.23% 22.00% 35.39%
Greater than $83,237 up to $87,907 11.16% 6.25% 22.00% 39.41%
Greater than $87,907 up to $136,270 11.16% 6.25% 26.00% 43.41%
Greater than $136,270 up to $150,000 11.16% 6.25% 29.00% 46.41%
Greater than $150,000 up to $220,000 12.16% 6.81% 29.00% 47.97%
Greater than $220,000 13.16% 7.37% 29.00% 49.53%

Calculate your combined federal and provincial tax bill with the calculator provided by Ernst & Young LLP.

Canada Revenue Agency Tax Tables 

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