Newfoundland & Labrador -> Tax Rates -> 2015 & 2016 Tax Rates -> Newfoundland & Labrador 2015 & 2016 Tax Rates
Newfoundland & Labrador 2015 and 2016 Personal Marginal Income Tax Rates
The NL 2016 Budget increased all personal income tax rates, effective July 1, 2016. The 2016 rates shown below for the new tax brackets are the effective rates for 2016, and will be the rates on the 2016 income tax return.
The 2016 marginal tax rate for non-eligible dividends was reduced by the 2016 NL Budget, for dividends received on or after July 1, 2016. The rate used for 2016 in the table below is an average rate for the year, which assumes that dividends will be earned evenly throughout the year.
The Federal tax rates for 2016 are as per Bill C-2 tabled in December 2015. The Newfoundland & Labrador tax brackets and personal amount were increased for 2016 by an indexation factor of 1.004. The Federal tax brackets and personal amount were increased for 2016 by an indexation factor of 1.013. The indexation factors, tax brackets and tax rates have been confirmed to Canada Revenue Agency information.
Please read the article Understanding the Tables of Personal Income Tax Rates.
Newfoundland & Labrador Personal Income Tax Brackets and Tax Rates |
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| 2016 Taxable Income | 2016 Tax Rates | 2015 Taxable Income | 2015 Tax Rates | ||||||
| first $35,148 | 8.2% | first $35,008 | 7.7% | ||||||
| over $35,148 up to $70,295 | 13.5% | over $35,008 up to $70,015 | 12.5% | ||||||
| over $70,295 up to $125,500 | 14.55% | over $70,015 up to $125,000 | 13.3% | ||||||
| over $125,500 up to $175,700 | 15.8% | over $125,000 up to $175,000 | 13.8% | ||||||
| over $175,700 | 16.8% | over $175,000 | 14.3% | ||||||
Combined Federal & Newfoundland & Labrador Tax Brackets and Tax Rates |
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| 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 $35,148 | 23.20% | 11.60% | 3.84% | 10.39% | first $35,008 | 22.7% | 11.35% | 3.15% | 8.95% |
| over $35,148 up to $45,282 | 28.50% | 14.25% | 11.15% | 16.59% | over $35,008 up to $44,701 | 27.5% | 13.75% | 9.77% | 14.61% |
| over $45,282 up to $70,295 | 34.00% | 17.00% | 18.74% | 23.02% | over $44,701 up to $70,015 | 34.5% | 17.25% | 19.43% | 22.87% |
| over $70,295 up to $90,563 | 35.05% | 17.53% | 20.19% | 24.25% | over $70,015 up to $89,401 | 35.3% | 17.65% | 20.53% | 23.82% |
| over $90,563 up to $125,500 | 40.55% | 20.28% | 27.78% | 30.69% | over $89,401 up to $125,000 | 39.3% | 19.65% | 26.05% | 28.54% |
| over $125,500 up to $140,388 | 41.80% | 20.90% | 29.50% | 32.15% | over $125,000 up to $138,586 | 39.8% | 19.90% | 26.74% | 29.13% |
| over $140,388 up to $175,700 | 44.80% | 22.40% | 33.64% | 35.66% | over $138,586 up to $175,000 | 42.8% | 21.40% | 30.88% | 32.67% |
| over $175,700 up to $200,000 | 45.80% | 22.90% | 35.02% | 36.83% | over $175,000 | 43.3% | 21.65% | 31.57% | 33.26% |
| over $200,000 | 49.80% | 24.90% | 40.54% | 41.51% | |||||
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Marginal tax rate for dividends is a % of actual
dividends received (not grossed-up amount). |
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Newfoundland & Labrador Basic Personal Amount |
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| 2016 Personal Amount | 2016 Tax Rate | 2015 Personal Amount | 2015 Tax Rate | ||||||
| $8,802 | 8.2% | $8,767 | 7.7% | ||||||
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Federal Basic Personal Amount |
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| 2016 Personal Amount | 2016 Tax Rate | 2015 Personal Amount | 2015 Tax Rate | ||||||
| $11,474 | 15% | $11,327 | 15% | ||||||
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Revised: October 26, 2023