These are the rates that an individual will use when completing their 2010 income tax and benefit return. The information may change during the year to reflect updates to the law.
Federal Tax Rates For 2010 Are:- 15% on the first $40,970 of taxable income, +
- 22% on the next $40,971 of taxable income (on the portion of taxable income between $40,970 and $81,941), +
- 26% on the next $45,080 of taxable income (on the portion of taxable income between $81,941 and $127,021), +
- 29% of taxable income over $127,021.
Provincial / Territorial tax rates
Under the current tax on income method, tax for all provinces (except Quebec) and territories is calculated the same way as federal tax.
Form 428 is used to calculate this provincial or territorial tax. Provincial or territorial specific non-refundable tax credits are also calculated on Form 428.
For complete details, see the Provincial or Territorial information and forms in your 2010 tax package.