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Tax Comparison Investment Income 2013

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Personal Tax -> Dividend tax credits ->
                         -> Tax Rates -> Tax comparison

Tax Comparison of Dividends vs Interest in 2013

The tables on this page compare taxes payable by province/territory in 2013 for three different types of investment income - Canadian dividends eligible for the enhanced dividend tax credit, non-eligible Canadian dividends, and other investment income such as foreign dividends and interest.  The calculations assume that the income is earned by a single person, and that there is no other type of income included in taxable income.  The tax rates used are as known on November 12, 2012.  The total taxes payable include any alternative minimum tax, where applicable.

Dividends eligible for the enhanced dividend tax credit

Actual
Eligible
Dividends
Taxable
Income
Total Federal + Provincial Income Taxes Payable (Refundable) in 2013
AB BC MB NB NL

NS

NT NU ON PE QC

SK

YT

$30,000 $41,400 $0 $831 $403 $0 $0 $0 $(680) $(828) $450 $0 $906 $0 $0
50,000 69,000 111 942 1,918 111 111 1,921 (831) (1,089) 711 499 2,748 111 111
60,000 82,800 1,439 2,266 4,583 1,498 1,483 4,389 524 266 2,418 2,743 5,020 1,479 1,463
80,000 110,400 4,488 5,314 10,248 4,579 4,556 9,772 3,588 3,788 6,779 7,536 11,247 4,550 4,526
100,000 138,000 7,447 8,274 15,783 7,843 7,858 15,091 6,534 7,774 11,053 12,179 18,095 8,023 7,473

 

Non-eligible dividends

Actual
Non-eligible
Dividends
Taxable
Income
Total Federal + Provincial Income Taxes Payable in 2013
AB BC MB NB NL

NS

NT NU ON PE QC

SK

YT
$15,000 $18,750 $0 $0 $689 $0 $0 $0 $(396) $(375) $0 $476 $269 $0 $0
30,000 37,500 678 934 2,561 652 542 151 (631) (750) 390 2,052 1,486 948 172
50,000 62,500 3,015 2,718 6,023 3,345 3,129 2,732 (195) (358) 2,106 5,489 5,161 3,802 2,016
60,000 75,000 4,911 4,339 8,853 5,448 5,209 4,937 939 1,100 3,920 8,255 7,665 6,011 3,746
80,000 100,000 9,218 9,038 15,448 10,391 9,966 9,919 5,030 4,871 8,178 14,387 13,258 10,943 7,946
100,000 125,000 14,009 14,915 22,527 15,848 15,205 15,535 9,747 9,288 13,075 21,089 20,540 16,407 12,845

Other income (foreign dividends, interest, etc.)

Interest
Income
Taxable
Income
Total Federal + Provincial Income Taxes Payable in 2013
AB BC MB NB NL

NS

NT NU ON PE QC

SK

YT

$15,000 $15,000 $594 $519 $1,133 $594 $594 $867 $330 $396 $700 $1,059 $10 $594 $650
30,000 30,000 4,085 4,426 5,125 4,620 4,504 4,761 3,278 2,946 4,176 5,029 4,502 4,468 4,179
50,000 50,000 9,536 9,464 11,106 10,558 10,275 11,202 7,949 7,050 9,358 11,160 11,763 10,261 9,208
60,000 60,000 12,736 12,434 14,581 14,104 13,725 14,911 10,909 9,750 12,473 14,740 15,700 13,761 12,376
80,000 80,000 19,136 18,510 22,135 21,217 20,724 22,645 17,008 15,550 19,050 22,365 23,574 20,761 18,712
100,000 100,000 26,051 25,771 30,531 29,024 28,300 30,952 24,363 22,205 27,350 30,651 32,591 28,276 25,888

Notes re all three tables:
     - BC includes MSP premiums payable for 2014 based on 2013 income
     - Ontario - includes Ontario Health Premium
     - QC includes progressive health contribution, contribution to the health services fund, and prescription drug insurance plan premiums
     - QC taxes are net of tax credit for person living alone

To see the tax results for your own income situation, and how it would change if the type of investment income changes, use our Income Tax Planning Calculators.

See also Tax Comparisons by Province and Territory, which compare different levels of employment income.

 

Revised: August 24, 2017

 

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