According to the latest update to the indexation adjustment table from the Canada Revenue Agency, the federal personal income tax brackets and rates for 2017 will be as follows:
- up to CAD 45,916 - 15%
- over CAD 45,916 up to 91,831 - 20.5%
- over CAD 91,831 up to 142,353 - 26%
- over CAD 142,353 up to 202,800 - 29%
- over CAD 202,800 - 33%
In addition to federal income tax, personal income is also subject to tax at the provincial/territorial level, resulting in a top progressive rate of up to 54%…