TaxTips.ca
Canadian Tax and
Financial Information
Tax Comparison Investment Income 2014 - Dividends vs Interest

Ads keep this website free for you.
TaxTips.ca does not research or endorse any product or service appearing in ads on this site.  Before making a major financial decision you  should consult a qualified professional.

Looking for US tax information?
See
USTaxTips.net

Need an accounting, tax or financial advisor? Look in our Directory.      Stay Connected with TaxTips.ca!

Home
What's New
Calculators
Personal Tax
Business
Sales Taxes
Free in 30!
Financial Planning
RRSP RRIF TFSA
Real Estate
Stocks Bonds etc.
Seniors
Disabilities
Canada
Alberta
British Columbia
Manitoba
Ontario
Quebec
Saskatchewan
Atlantic Provinces
Territories
Federal Budget
Provincial Budgets
Statistics etc.
Glossary
Site Map
Directory
Advertise With Us
Contact Us/About Us
Links & Resources



Personal Tax -> Dividend tax credits ->
                         -> Tax Rates -> Tax comparisons -> Tax Comparisons Investment Income

Tax Comparison of Dividends vs Interest in 2014

The tables on this page compare taxes payable by province/territory in 2014 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 August 18, 2014.  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 2014
AB BC MB NB NL

NS

NT NU ON PE QC

SK

YT

$30,000 $41,400 $0 $864 $376 $0 $0 $0 $(680) $(828) $450 $0 $910 $0 $0
50,000 69,000 69 933 1,849 69 735 1,879 (873) (1,131) 669 457 2,693 69 69
60,000 82,800 1,433 2,293 4,555 1,499 2,851 4,389 521 263 2,179 2,744 4,963 1,478 1,460
80,000 110,400 4,494 5,352 10,236 5,315 7,348 9,791 3,599 3,758 5,238 7,555 11,166 4,565 4,536
100,000 138,000 7,465 8,324 15,789 9,649 11,714 15,131 6,562 7,729 9,803 12,219 17,963 8,012 7,500

Non-eligible dividends

Note:  Non-eligible dividends gross-up % is 18% in 2014, and was 25% in previous years.

Actual
Non-eligible
Dividends
Taxable
Income
Total Federal + Provincial Income Taxes Payable in 2014
AB BC MB NB NL

NS

NT NU ON PE QC

SK

YT
$15,000 $17,700 $0 $(21) $709 $0 $0 $0 $(383) $(354) $0 $298 $173 $0 $0
30,000 35,400 664 1,239 2,629 608 510 645 (605) (708) 300 1,717 1,579 999 281
50,000 59,000 4,025 4,120 7,174 4,413 4,119 4,520 861 1,122 2,943 5,951 6,134 4,839 3,121
60,000 70,800 6,135 6,018 10,054 6,832 6,371 7,087 2,087 2,864 4,790 8,696 8,844 7,268 5,084
80,000 94,400 10,615 10,757 16,816 12,199 11,287 12,498 6,043 6,860 10,111 14,734 14,938 12,385 9,384
100,000 118,000 15,780 16,900 24,263 18,383 16,889 18,778 11,043 11,800 16,694 21,456 22,390 18,187 14,669

Other income (foreign dividends, interest, etc.)

Interest
Income
Taxable
Income
Total Federal + Provincial Income Taxes Payable in 2014
AB BC MB NB NL

NS

NT NU ON PE QC

SK

YT

$15,000 $15,000 $579 $504 $1,091 $579 $579 $852 $308 $377 $672 $1,044 $492 $579 $634
30,000 30,000 4,051 4,431 5,083 4,629 4,479 4,746 3,256 2,927 4,156 5,014 5,495 4,438 4,157
50,000 50,000 9,474 9,475 11,037 10,726 10,198 11,159 7,890 6,992 9,294 11,117 12,268 10,195 9,148
60,000 60,000 12,674 12,445 14,512 14,408 13,648 14,869 10,850 9,692 12,409 14,697 16,205 13,695 12,316
80,000 80,000 19,074 18,519 22,066 21,796 20,640 22,603 16,923 15,492 18,960 22,322 24,079 20,695 18,652
100,000 100,000 25,958 25,746 30,430 29,983 28,183 30,878 24,247 2,2100 27,190 30,577 33,037 28,179 25,782

Notes re all three tables:
     - BC includes MSP premiums payable for 2015 based on 2014 income.
     - NL dividends are assumed to be received evenly throughout the year, so the taxes are lower than they will be in 2015.
     - 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: September 20, 2017

 

 

 

Copyright © 2002 - 2017 Boat Harbour Investments Ltd. All Rights Reserved  See Reproduction of information from TaxTips.ca

Facebook  | Twitter  |  Google + |  Monthly Newsletter Sign-up  What’s New E-mail Notification RSS News Feed
The information on this site is not intended to be a substitute for professional advice.  Each person's situation differs, and a professional advisor can assist you in using the information on this web site to your best advantage. 
Please see our legal disclaimer regarding the use of information on our site, and our Privacy Policy regarding information that may be collected from visitors to our site.