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Newfoundland & Labrador 2015 and 2014 Personal Tax Rates

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Atlantic Provinces -> Newfoundland & Labrador
Tax Rates -> 2014 and 2015 Marginal Tax Rates -> Newfoundland & Labrador

Newfoundland & Labrador 2014 and 2015 Personal Marginal Income Tax Rates

The Newfoundland & Labrador tax brackets and personal amount were increased for 2015 by an indexation factor of 1.022.  The Federal tax brackets and personal amount were increased for 2015 by an indexation factor of 1.017.  The indexation factors, bracket thresholds and personal amounts for 2015 have been confirmed to Canada Revenue Agency amounts.

The NL 2015 Budget created 2 new income tax brackets and rates, effective July 1, 2015.  The rates shown below for the new tax brackets are the effective rates for 2015, which are the average rates for the year.

Please read the article Understanding the Tables of Personal Income Tax Rates.

Newfoundland & Labrador Personal Income Tax Brackets and Tax Rates

2015 Taxable Income 2015 Tax Rates 2014 Taxable Income 2014 Tax Rates
first $35,008 7.7% first $34,254 7.7%
over $35,008 up to $70,015 12.5% over $34,254 up to $68,508 12.5%
over $70,015 up to $125,000 13.3% over $68,508 13.3%
over $125,000 up to $175,000 13.8%  
over $175,000 14.3%

Combined Federal & Newfoundland & Labrador Tax Brackets and Tax Rates

2015 Taxable Income 2015 Marginal Tax Rates 2014 Taxable Income 2014 Marginal Tax Rates
Other
Income
Capital
Gains
Canadian Dividends Other
Income
Capital
Gains
Canadian Dividends
Eligible Non-Eligible Eligible Non-Eligible
first $35,008 22.7% 11.35% 3.15% 8.95% first $34,254 22.7% 11.35% -0.72% 8.42%
over $35,008 up to $44,701 27.5% 13.75% 9.77% 14.61% over $34,254 up to $43,953 27.5% 13.75% 5.91% 14.08%
over $44,701 up to $70,015 34.5% 17.25% 19.43% 22.87% over $43,953 up to $68,508 34.5% 17.25% 15.57% 22.34%
over $70,015 up to $89,401 35.3% 17.65% 20.53% 23.82% over $68,508 up to $87,907 35.3% 17.65% 16.67% 23.29%
over $89,401 up to $125,000 39.3% 19.65% 26.05% 28.54% over $87,907 up to $136,270 39.3% 19.65% 22.19% 28.01%
over $125,000 up to 138,586 39.8% 19.90% 26.74% 29.13% over $136,270 42.3% 21.15% 26.33% 31.55%
over $138,586 up to $175,000 42.8% 21.40% 30.88% 32.67%  
over $175,000 43.3% 21.65% 31.57% 33.26%

Marginal tax rate for dividends is a % of actual dividends received (not grossed-up amount).
Marginal tax rate for capital gains is a % of total capital gains (not taxable capital gains).
Gross-up rate for eligible dividends is 38%, and for non-eligible dividends is 18%.
Above rates use an average rate for both eligible and non-eligible dividend tax credits for 2014, assuming that the dividends are earned evenly throughout the year.
For more information see NL dividend tax credits.

Newfoundland & Labrador Basic Personal Amount

2015 Tax Rate 2014 Tax Rate
$8,767 7.7% $8,578 7.7%

Federal Basic Personal Amount

2015 Tax Rate 2014 Tax Rate
$11,327 15% $11,138 15%

 

Revised: September 20, 2017

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