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Tax Rates 2021 – For Ontario Residents
Evolving Tax Rules – Real Estate Industry
February 14, 2021
Benefit from 2022 Ontario’s Staycation Tax Credit
March 7, 2022
Tax Table 2021 – For Ontario Residents
Definition of Effective Rate and Marginal Rate:
- Effective rate is the actual percentage you pay on your taxes. Its based on the weighted average tax rate on your taxable income.
- Marginal tax rate is the tax rate imposed on your last dollar of income. Incremental income is taxed on the marginal tax rate.
| Taxable Income (greater than) | Federal Tax $ | Ontario Tax $ | Total $ | Effective Rate % | Federal Marginal Rate % | ON Marginal Rate % | Total Marginal Rate % |
|---|---|---|---|---|---|---|---|
| 10,000 | 0 | 0 | 0 | 0.0 | 0.0 | 0.6 | 0.6 |
| 11,000 | 0 | 6 | 6 | 0.1 | 0.0 | 5.1 | 5.1 |
| 12,000 | 0 | 57 | 57 | 0.5 | 0.0 | 5.1 | 5.1 |
| 13,000 | 0 | 107 | 107 | 0.8 | 2.9 | 5.1 | 7.9 |
| 14,000 | 29 | 158 | 186 | 1.3 | 15.0 | 5.1 | 20.1 |
| 15,000 | 179 | 208 | 387 | 2.6 | 15.0 | 5.1 | 20.1 |
| 16,000 | 329 | 259 | 587 | 3.7 | 15.0 | 5.1 | 20.1 |
| 17,000 | 479 | 309 | 788 | 4.6 | 15.0 | 5.1 | 20.1 |
| 18,000 | 629 | 360 | 988 | 5.5 | 15.0 | 5.1 | 20.1 |
| 19,000 | 779 | 410 | 1,189 | 6.3 | 15.0 | 5.1 | 20.1 |
| 20,000 | 929 | 461 | 1,389 | 6.9 | 15.0 | 5.1 | 20.1 |
| 21,000 | 1,079 | 511 | 1,590 | 7.6 | 15.0 | 5.1 | 20.1 |
| 22,000 | 1,229 | 562 | 1,790 | 8.1 | 15.0 | 5.1 | 20.1 |
| 23,000 | 1,379 | 612 | 1,991 | 8.7 | 15.0 | 5.1 | 20.1 |
| 24,000 | 1,529 | 663 | 2,191 | 9.1 | 15.0 | 5.1 | 20.1 |
| 25,000 | 1,679 | 713 | 2,392 | 9.6 | 15.0 | 5.1 | 20.1 |
| 26,000 | 1,829 | 764 | 2,592 | 10.0 | 15.0 | 5.1 | 20.1 |
| 27,000 | 1,979 | 814 | 2,793 | 10.3 | 15.0 | 5.1 | 20.1 |
| 28,000 | 2,129 | 865 | 2,993 | 10.7 | 15.0 | 5.1 | 20.1 |
| 29,000 | 2,279 | 915 | 3,194 | 11.0 | 15.0 | 5.1 | 20.1 |
| 30,000 | 2,429 | 966 | 3,394 | 11.3 | 15.0 | 5.1 | 20.1 |
| 31,000 | 2,579 | 1,016 | 3,595 | 11.6 | 15.0 | 5.1 | 20.1 |
| 32,000 | 2,729 | 1,067 | 3,795 | 11.9 | 15.0 | 5.1 | 20.1 |
| 33,000 | 2,879 | 1,117 | 3,996 | 12.1 | 15.0 | 5.1 | 20.1 |
| 34,000 | 3,029 | 1,168 | 4,196 | 12.3 | 15.0 | 5.1 | 20.1 |
| 35,000 | 3,179 | 1,218 | 4,397 | 12.6 | 15.0 | 5.1 | 20.1 |
| 36,000 | 3,329 | 1,269 | 4,597 | 12.8 | 15.0 | 5.1 | 20.1 |
| 37,000 | 3,479 | 1,319 | 4,798 | 13.0 | 15.0 | 5.1 | 20.1 |
| 38,000 | 3,629 | 1,370 | 4,998 | 13.2 | 15.0 | 5.1 | 20.1 |
| 39,000 | 3,779 | 1,420 | 5,199 | 13.3 | 15.0 | 5.1 | 20.1 |
| 40,000 | 3,929 | 1,471 | 5,399 | 13.5 | 15.0 | 5.1 | 20.1 |
| 41,000 | 4,079 | 1,521 | 5,600 | 13.7 | 15.0 | 5.1 | 20.1 |
| 42,000 | 4,229 | 1,572 | 5,800 | 13.8 | 15.0 | 5.1 | 20.1 |
| 43,000 | 4,379 | 1,622 | 6,001 | 14.0 | 15.0 | 5.1 | 20.1 |
| 44,000 | 4,529 | 1,673 | 6,201 | 14.1 | 15.0 | 5.1 | 20.1 |
| 45,000 | 4,679 | 1,723 | 6,402 | 14.2 | 15.0 | 8.6 | 23.6 |
| 46,000 | 4,829 | 1,809 | 6,638 | 14.4 | 15.0 | 9.2 | 24.2 |
| 47,000 | 4,979 | 1,900 | 6,879 | 14.6 | 15.0 | 9.2 | 24.2 |
| 48,000 | 5,129 | 1,992 | 7,121 | 14.8 | 15.0 | 9.2 | 24.2 |
| 49,000 | 5,279 | 2,083 | 7,362 | 15.0 | 20.4 | 9.2 | 29.5 |
| 50,000 | 5,483 | 2,175 | 7,657 | 15.3 | 20.5 | 9.2 | 29.7 |
| 51,000 | 5,688 | 2,266 | 7,954 | 15.6 | 20.5 | 9.2 | 29.7 |
| 52,000 | 5,893 | 2,358 | 8,250 | 15.9 | 20.5 | 9.2 | 29.7 |
| 53,000 | 6,098 | 2,449 | 8,547 | 16.1 | 20.5 | 9.2 | 29.7 |
| 54,000 | 6,303 | 2,541 | 8,843 | 16.4 | 20.5 | 9.2 | 29.7 |
| 55,000 | 6,508 | 2,632 | 9,140 | 16.6 | 20.5 | 9.2 | 29.7 |
| 56,000 | 6,713 | 2,724 | 9,436 | 16.9 | 20.5 | 9.2 | 29.7 |
| 57,000 | 6,918 | 2,815 | 9,733 | 17.1 | 20.5 | 9.2 | 29.7 |
| 58,000 | 7,123 | 2,907 | 10,029 | 17.3 | 20.5 | 9.2 | 29.7 |
| 59,000 | 7,328 | 2,998 | 10,326 | 17.5 | 20.5 | 9.2 | 29.7 |
| 60,000 | 7,533 | 3,090 | 10,622 | 17.7 | 20.5 | 9.2 | 29.7 |
| 61,000 | 7,738 | 3,181 | 10,919 | 17.9 | 20.5 | 9.2 | 29.7 |
| 62,000 | 7,943 | 3,273 | 11,215 | 18.1 | 20.5 | 9.2 | 29.7 |
| 63,000 | 8,148 | 3,364 | 11,512 | 18.3 | 20.5 | 9.2 | 29.7 |
| 64,000 | 8,353 | 3,456 | 11,808 | 18.5 | 20.5 | 9.2 | 29.7 |
| 65,000 | 8,558 | 3,547 | 12,105 | 18.6 | 20.5 | 9.2 | 29.7 |
| 66,000 | 8,763 | 3,639 | 12,401 | 18.8 | 20.5 | 9.2 | 29.7 |
| 67,000 | 8,968 | 3,730 | 12,698 | 19.0 | 20.5 | 9.2 | 29.7 |
| 68,000 | 9,173 | 3,822 | 12,994 | 19.1 | 20.5 | 9.2 | 29.7 |
| 69,000 | 9,378 | 3,913 | 13,291 | 19.3 | 20.5 | 9.2 | 29.7 |
| 70,000 | 9,583 | 4,005 | 13,587 | 19.4 | 20.5 | 9.2 | 29.7 |
| 71,000 | 9,788 | 4,096 | 13,884 | 19.6 | 20.5 | 9.2 | 29.7 |
| 72,000 | 9,993 | 4,188 | 14,180 | 19.7 | 20.5 | 9.2 | 29.7 |
| 73,000 | 10,198 | 4,279 | 14,477 | 19.8 | 20.5 | 9.2 | 29.7 |
| 74,000 | 10,403 | 4,371 | 14,773 | 20.0 | 20.5 | 9.2 | 29.7 |
| 75,000 | 10,608 | 4,462 | 15,070 | 20.1 | 20.5 | 9.2 | 29.7 |
| 80,000 | 11,633 | 4,929 | 16,562 | 20.7 | 20.5 | 11.0 | 31.5 |
| 85,000 | 12,658 | 5,478 | 18,136 | 21.3 | 20.5 | 11.0 | 31.5 |
| 90,000 | 13,683 | 6,027 | 19,710 | 21.9 | 20.5 | 12.7 | 33.2 |
| 95,000 | 14,708 | 6,744 | 21,451 | 22.6 | 20.5 | 17.4 | 37.9 |
| 100,000 | 15,841 | 7,614 | 23,455 | 23.5 | 26.0 | 17.4 | 43.4 |
| 105,000 | 17,141 | 8,485 | 25,625 | 24.4 | 26.0 | 17.4 | 43.4 |
| 110,000 | 18,441 | 9,355 | 27,795 | 25.3 | 26.0 | 17.4 | 43.4 |
| 115,000 | 19,741 | 10,225 | 29,966 | 26.1 | 26.0 | 17.4 | 43.4 |
| 120,000 | 21,041 | 11,096 | 32,136 | 26.8 | 26.0 | 17.4 | 43.4 |
| 125,000 | 22,341 | 11,966 | 34,307 | 27.4 | 26.0 | 17.4 | 43.4 |
| 130,000 | 23,641 | 12,837 | 36,477 | 28.1 | 26.0 | 17.4 | 43.4 |
| 135,000 | 24,941 | 13,707 | 38,648 | 28.6 | 26.0 | 17.4 | 43.4 |
| 140,000 | 26,241 | 14,578 | 40,818 | 29.2 | 26.0 | 17.4 | 43.4 |
| 145,000 | 27,541 | 15,448 | 42,989 | 29.6 | 26.0 | 17.4 | 43.4 |
| 150,000 | 28,841 | 16,319 | 45,159 | 30.1 | 26.0 | 19.0 | 45.0 |
| 155,000 | 30,231 | 17,267 | 47,498 | 30.6 | 29.0 | 19.0 | 48.0 |
| 160,000 | 31,681 | 18,216 | 49,897 | 31.2 | 29.0 | 19.0 | 48.0 |
| 165,000 | 33,131 | 19,164 | 52,295 | 31.7 | 29.0 | 19.0 | 48.0 |
| 170,000 | 34,581 | 20,113 | 54,694 | 32.2 | 29.0 | 19.0 | 48.0 |
| 175,000 | 36,031 | 21,061 | 57,092 | 32.6 | 29.0 | 19.0 | 48.0 |
| 180,000 | 37,481 | 22,010 | 59,491 | 33.1 | 29.0 | 19.0 | 48.0 |
| 185,000 | 38,931 | 22,958 | 61,889 | 33.5 | 29.0 | 19.0 | 48.0 |
| 190,000 | 40,381 | 23,907 | 64,288 | 33.8 | 29.0 | 19.0 | 48.0 |
| 195,000 | 41,831 | 24,855 | 66,686 | 34.2 | 29.0 | 19.0 | 48.0 |
| 200,000 | 43,281 | 25,804 | 69,085 | 34.5 | 29.0 | 19.0 | 48.0 |
| 205,000 | 44,731 | 26,752 | 71,483 | 34.9 | 29.0 | 19.0 | 48.0 |
| 210,000 | 46,181 | 27,701 | 73,882 | 35.2 | 29.0 | 19.0 | 48.0 |
| 215,000 | 47,631 | 28,649 | 76,280 | 35.5 | 29.0 | 19.0 | 48.0 |
| 220,000 | 49,221 | 29,598 | 78,818 | 35.8 | 33.0 | 20.5 | 53.5 |
| 225,000 | 50,871 | 30,624 | 81,495 | 36.2 | 33.0 | 20.5 | 53.5 |
| 230,000 | 52,521 | 31,651 | 84,171 | 36.6 | 33.0 | 20.5 | 53.5 |
| 235,000 | 54,171 | 32,677 | 86,848 | 37.0 | 33.0 | 20.5 | 53.5 |
| 240,000 | 55,821 | 33,703 | 89,524 | 37.3 | 33.0 | 20.5 | 53.5 |
| 245,000 | 57,471 | 34,730 | 92,201 | 37.6 | 33.0 | 20.5 | 53.5 |
| 250,000 | 59,121 | 35,756 | 94,877 | 38.0 | 33.0 | 20.5 | 53.5 |
This table does not take into account:
- Low income tax reduction
- ON health premium
To view current year Federal tax rates, click here
If you are considering forming a Corporation, read our blog on Consider Incorporation
Disclaimer:
The above information may include rounding differences and is intended to provide general information. It should not be used without consultation from accounting and tax professionals. Capital Business & Tax Consulting will not be held liable for any problem that may arise from the use of this information.
