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2023 COMBINED TABLE OF PERSONAL INCOME TAX RATES
Marginal Tax Rates Expressed in Percentages
Other Income Capital Gains Regular Dividends Eligible Dividends
$15,000 - $23,178 15.00 7.50 6.87 (9.60)
$23,179 - $45,654 20.06 10.03 10.43 (9.60)
$45,655 - $53,359 22.70 11.35 13.47 (5.96)
$53,360 - $91,310 28.20 14.10 19.80 1.63
$91,311 - $104,835 31.00 15.50 23.02 5.49
$104,836 - $106,717 32.79 16.40 25.07 7.96
$106,718 - $127,299 38.29 19.15 31.40 15.55
$127,300 - $165,430 40.70 20.35 34.17 18.88
$165,431 - $172,602 44.02 22.01 37.99 23.46
$172,603 - $235,675 46.12 23.06 40.41 26.36
$235,676 - $240,716 49.80 24.90 44.64 31.44
over $240,717 53.50 26.75 48.89 36.54
  • The 2023 B.C personal exemption is $11,981
  • Individual residents in B.C. with taxable income up to $23,179 generally pay no provincial income tax as a result of the B.C. tax reduction credit. The credit is clawed back on income in excess of $23,179
  • The 2023 federal personal exemption is $15,000
  • On income above $165,430, there is an additional tax of 0.32%, as the basic personal credit will be reduced from $15,000 to $13,521
  • Marginal tax rate for dividends is a % of actual dividends received (not grossed-up amount)
  • Taxpayer with no other income may receive dividends up to $25,485 tax free
  • Taxpayer with no other income may receive eligible dividends up to $55,002 tax-free
  • Tax rates exclude deductions for CPP and EI
  • Tax rates apply to British Columbia residents
  • Maximum CPP for employees - $3,754.45 ($66,600 maximum less $3,500 @ 5.95%)
  • Maximum EI for employees - $952.74 ($61,500 maximum insurable @ 1.63%)