Income Tax in 🇨🇦 Canada

Tax brackets, effective rates, and net income calculations. Data from official government sources.

The Taxation Score of 48/100 reveals a significant tax burden, with tax revenue constituting 32.2% of GDP and a corporate tax rate of 26.5%. Income tax brackets begin at 15% for earnings up to $55,867 and rise progressively to 33% for income exceeding $220,000, alongside social contributions of 595%. Prospective residents must factor these rates into their financial planning, understanding that a substantial portion of earnings will contribute to public services.