Tax Question:
What are the combined personal tax rates for 2019 Federal and British Columbia?
Facts:
Tax rates change every year and there are several types of income that are taxed differently. See below for updated tax rate charts (with estimates) for 2019.
| Taxable Income Zone | Basic Tax | Basic Rate in Zone | Other Dividends (estimated %) | Eligible Dividends (estimated %) | Capital Gains |
|---|---|---|---|---|---|
| $0 to $18,715 | $- | 0.00% | 0.00% | 0.00% | 0.00% |
| $18,716 to $40,707 | $- | 20.06% | 10.43% | 0.00% | 10.03% |
| $40,708 to $47,630 | $5,119 | 22.70% | 13.47% | 0.00% | 11.35% |
| $47,631 to $81,416 | $6,595 | 28.20% | 19.80% | 1.63% | 14.10% |
| $81,417 to $93,476 | $16,001 | 31.00% | 23.02% | 5.49% | 15.50% |
| $93,477 to $95,259 | $19,737 | 32.79% | 25.07% | 7.96% | 16.40% |
| $95,260 to $113,506 | $20,321 | 38.29% | 31.40% | 15.55% | 19.15% |
| $113,507 to $147,667 | $27,302 | 40.70% | 34.17% | 18.88% | 20.35% |
| $147,668 to $153,900 | $41,203 | 43.70% | 37.62% | 23.02% | 21.85% |
| $153,901 to $210,371 | $43,925 | 45.80% | 40.04% | 25.92% | 22.90% |
| $210,372 and up | $69,788 | 49.80% | 44.64% | 31.44% | 24.90% |
If you would like more information on this topic, please contact a member of the Empire CPA team by filling out the contact form below.
Canadian and foreign tax laws are complex and have a tendency to change on a frequent basis. As such, the content published above is believed to be accurate as of the date of this post. Before implementing any tax planning, please seek professional advice from a qualified tax professional. Empire, Chartered Professional Accountants will not accept any liability for any tax ramifications that may result from acting based on the information contained above.
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