2014 Tax Comparison of Dividends vs Interest

The tables on this page compare taxes payable by province/territory in 2014 for three different types of investment income:

- Canadian eligible dividends

- Canadian 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.

Taxes Payable on Eligible Dividends

Actual Eligible Dividends	Taxable Income	Total Federal + Provincial Income Taxes Payable (Refundable) in 2014
Actual Eligible Dividends	Taxable Income	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

Taxes Payable on 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
Actual Non-eligible Dividends	Taxable Income	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

Taxes Payable on Other income (foreign dividends, interest, etc.)

Interest Income	Taxable Income	Total Federal + Provincial Income Taxes Payable in 2014
Interest Income	Taxable Income	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.

TaxTips.ca Resources

Income Tax Planning Calculators.

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

Revised: October 26, 2023