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2024 COMBINED TABLE OF PERSONAL INCOME TAX RATES
Marginal Tax Rates Expressed in Percentages
Other Income Capital Gains Regular Dividends Eligible Dividends
$15,705 - $24,338 15.00 7.50 6.87 (9.60)
$24,339 - $47,937 20.06 10.03 10.43 (9.60)
$47,938 - $55,867 22.70 11.35 13.47 (5.96)
$55,868 - $95,875 28.20 14.10 19.80 1.63
$95,876 - $110,076 31.00 15.50 23.02 5.49
$110,077 - $111,733 32.79 16.40 25.07 7.96
$111,734 - $133,664 38.29 19.15 31.40 15.55
$133,665 - $173,205 40.70 20.35 34.17 18.88
$173,206 - $181,232 44.02 22.01 37.99 23.46
$181,233 - $246,752 46.12 23.06 40.41 26.36
$246,753 - $252,752 49.80 24.90 44.64 31.44
over $252,753 53.50 26.75 48.89 36.54
  • The 2024 B.C personal exemption is $12,580
  • Individual residents in B.C. with taxable income up to $24,338 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 $24,338
  • The 2024 federal personal exemption is $15,705
  • On income above $173,205, there is an additional tax of 0.32%, as the basic personal credit will be reduced from $15,705 to $14,156
  • 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 $26,772 tax free
  • Taxpayer with no other income may receive eligible dividends up to $55,707 tax-free
  • Tax rates exclude deductions for CPP and EI
  • Tax rates apply to British Columbia residents
  • Maximum CPP for employees - $3,867.50 ($68,500 maximum less $3,500 @ 5.95%)
  • Starting in 2024, there is a Step 2 rate of 4% applicable to pensionable earnings between $68,500 and $73,200
  • Maximum EI for employees - $1,049.12 ($63,200 maximum insurable @ 1.66%)