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Yukon 2015 and 2016 Personal Tax Rates

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Yukon   ->   Tax Rates   ->   2015 & 2016 Tax Rates -> Yukon 2015 & 2016 Income Tax Rates

Yukon 2015 and 2016 Personal Marginal Income Tax Rates

The Federal tax rates for 2016 are as per Bill C-2 tabled in December 2015.  The Yukon tax brackets and personal tax credits were increased for 2016 by an indexation factor of 1.013, except for the Yukon amount of $500,000, which is equal to the corporate small business limit.  Yukon uses the Federal indexation factor.  The indexation factors, tax brackets and tax rates have been confirmed to Canada Revenue Agency information.

Yukon's top tax threshold, as per s. 6(2)(b) of their Income Tax Act, is equal to the Small Business Limit.  The top tax rate is equal to the Yukon general corporate income tax rate.

The 2016 marginal tax rate for non-eligible dividends reflects the rate that is in effect automatically due to the change in the gross-up rate and federal small business corporate income tax rate for 2016.  The Yukon legislation automatically adjusts the dividend tax credit based on these changes.

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

Yukon Personal Income Tax Brackets and Tax Rates

2016 Taxable Income 2016 Tax Rates 2015 Taxable Income 2015 Tax Rates
first $45,282 6.40% first $44,701 6.40%
over $45,282 up to $90,563 9.00% over $44,701 up to $89,401 9.00%
over $90,563 up to $140,388 10.90% over $89,401 up to $138,586 10.90%
over $140,388 up to $500,000 12.80% over $138,586 up to $500,000 12.80%
over $500,000 15.00% over $500,000 15.00%

Combined Federal & Yukon Tax Brackets and Tax Rates

2016 Taxable Income 2016 Marginal Tax Rates 2015 Taxable Income 2015 Marginal Tax Rates
Other
Income
Capital
Gains
Canadian Dividends Other
Income
Capital
Gains
Canadian Dividends
Eligible Non-Eligible Eligible Non-Eligible
first $45,282 21.40% 10.70% -11.89% 9.05% first $44,701 21.40% 10.70% -11.89% 8.51%
over $45,282 up to $90,563 29.50% 14.75% -0.72% 18.53% over $44,701 up to $89,401 31.00% 15.50% 1.35% 19.84%
over $90,563 up to $140,388 36.90% 18.45% 9.50% 27.19% over $89,401 up to $138,586 36.90% 18.45% 9.50% 26.80%
over $140,388 up to $200,000 41.80% 20.90% 16.26% 32.92% over $138,586 up to $500,000 41.80% 20.90% 16.26% 32.58%
over $200,000 up to $500,000 45.80% 22.90% 21.78% 37.60% over $500,000 44.00% 22.00% 19.29% 35.18%
over $500,000 48.00% 24.00% 24.81% 40.18%  

The 2015 income tax rates were revised by the Yukon 2015 Budget - see Financial Information (pdf - see page 18), which included cancellation of the surtax.
The dividend tax credit rate for non-eligible dividends is automatically revised based on the lower small business corporate income tax rate.
The dividend tax credit rates for both eligible & non-eligible dividends are automatically revised based on the new highest income tax rate.
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 17% for 2016, 18% for 2015.
For more information see Yukon Dividend Tax Credits.

Yukon Basic Personal Amount

2016 Personal Amount 2016 Tax Rate 2015 Personal Amount 2015 Tax Rate
$11,474 6.40% $11,327 6.40%

Federal Basic Personal Amount

2016 Personal Amount 2016 Tax Rate 2015 Personal Amount 2015 Tax Rate
$11,474 15% $11,327 15%

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Revised: October 03, 2017

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