TaxTips.ca
Canadian Tax and
Financial Information
Ontario Health Premium

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!      Internet Explorer - Use compatibility view for calculators to work properly!

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



Ontario -> Ontario health premium

Ontario Health Premium

Ontario Income Tax Act s. 3.1(1)

Beginning July 1, 2004, the Ontario government started collecting, through the income tax system, an Ontario Health Premium that is based on an individual's taxable income.

Ontario Health Premium

Taxable Income

2005 and Later Tax Years

2004 Tax Year

first $20,000 no premium no premium
over $20,000 up to $25,000 (taxable income - $20,000) x 6% (taxable income - $20,000) x 3%
over $25,000 up to $36,000 $300 $150
over $36,000 up to $38,500 $300 + (taxable income - $36,000) x 6% $150 + (taxable income - $36,000) x 3%
over $38,500 up to $48,000 $450 $225
over $48,000 up to $48,600 $450 + (taxable income - $48,000) x 25% $225 + (taxable income - $48,000) x 12.5%
over $48,600 up to $72,000 $600 $300
over $72,000 up to $72,600 $600 + (taxable income - $72,000) x 25% $300 + (taxable income - $72,000) x 12.5%
over $72,600 up to $200,000 $750 $375
over $200,000 up to $200,600 $750 + (taxable income - $200,000) x 25% $375 + (taxable income - $200,000) x 12.5%
over $200,600 $900 $450

See also the Ontario Ministry of Finance web page on the Ontario Health Premium.

Revised: October 18, 2014

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.