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Newfoundland & Labrador 2021 & 2022 Income Tax Rates
Newfoundland & Labrador 2022 and 2021 Personal Marginal
Income Tax Rates
Newfoundland and Labrador Income Tax Act, 2000 s. 6.1, 7,
9
The Federal tax brackets
and personal tax credit amounts are increased for 2022 by an indexation factor of
1.024 (a 2.4% increase).
The NL tax brackets and personal tax credit amounts are increased for 2022 by an
indexation factor of 1.028 (a 2.8% increase).
The NL 2021 Budget increased tax rates
for taxable incomes over $135,973 and added 3 new tax brackets, beginning
January 1, 2022.
Bill
15, An Act to Amend the Income Tax Act, 2000 No. 2 increased the eligible
dividend tax credit rate from 5.4% to 6.3% and reduced the non-eligible
dividend tax credit rate from 3.5% to 3.2%, effective January 1, 2022.
The indexation factors, tax brackets and tax rates have been confirmed to Canada Revenue Agency
information.
TaxTips.ca - Newfoundland & Labrador
Personal Income Tax Brackets and Tax Rates
2022
Taxable Income
2022
Tax Rates
2021
Taxable Income
2021
Tax Rates
first $39,147
8.7%
first $38,081
8.7%
over $39,147 up to $78,294
14.5%
over $38,081 up to $76,161
14.5%
over $78,294 up to $139,780
15.8%
over $76,161 up to $135,973
15.8%
over $139,780 up
to $195,693
17.8%
over $135,973 up
to $190,363
17.3%
over $195,693 up to $250,000
19.8%
over $190,363
18.3%
over $250,000 up to $500,000
20.8%
over $500,000 up to $1,000,000
21.3%
over $1,000,000
21.8%
TaxTips.ca - Combined Federal
& Newfoundland & Labrador Tax Brackets and Tax Rates
2022
Taxable Income
NL
2022
Marginal Tax Rates
2021
Taxable Income
NL
2021
Marginal Tax Rates
Other
Income
Capital
Gains
Canadian
Dividends
Other
Income
Capital
Gains
Canadian
Dividends
Eligible
Non-Eligible
Eligible
Non-Eligible
first $39,147
23.70%
11.85%
3.28%
13.19%
first $38,081
23.70%
11.85%
4.53%
12.85%
over $39,147 up to
$50,197
29.50%
14.75%
11.29%
19.86%
over $38,081 up to
$49,020
29.50%
14.75%
12.53%
19.52%
over $50,197 up to $78,294
35.00%
17.50%
18.88%
26.19%
over $49,020 up to $76,161
35.00%
17.50%
20.12%
25.84%
over $78,294 up to
$100,392
36.30%
18.15%
20.67%
27.68%
over $76,161 up to
$98,040
36.30%
18.15%
21.91%
27.34%
over $100,392 up to $139,780
41.80%
20.90%
28.26%
34.01%
over $98,040 up to $135,973
41.80%
20.90%
29.50%
33.66%
over $139,780 up
to $155,625
43.80%
21.90%
31.02%
36.31%
over $135,973 up
to $151,978
43.30%
21.65%
31.57%
35.39%
over $155,625 up to
$195,693
47.18%
23.59%
35.68%
40.20%
over $151,978 up to $190,363
46.62%
23.31%
36.16%
39.21%
over
$195,693 up
to $221,708
49.18%
24.59%
38.44%
42.50%
over $190,363 up
to $216,511
47.62%
23.81%
37.54%
40.36%
over $221,708 up to $250,000
52.80%
26.40%
43.44%
46.66%
over $216,511
51.30%
25.65%
42.61%
44.59%
over $250,000 up to $500,000
53.80%
26.90%
44.82%
47.81%
over $500,000 up to $1,000,000
54.30%
27.15%
45.51%
48.38%
over $1,000,000
54.80%
27.40%
46.20%
48.96%
Marginal tax rate for dividends is a % of actual
dividends received (not grossed-up taxable 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
15%.
For more information see NL
dividend tax
credits.
Newfoundland & Labrador Basic Personal
Amount
2022
Personal Amount
2022
Tax Rate
2021
Personal Amount
2021
Tax Rate
$9,804
8.7%
$9,536
8.7%
Federal Basic Personal
Amount
2022
Personal Amount (1)
2022
Tax Rate
2021
Personal Amount (1)
2021
Tax Rate
$14,398
15%
$13,808
15%
(1) See the federal
tax rates page for information on the enhanced federal
personal amount, which increases the marginal tax rates for taxable incomes in
the second highest federal tax bracket. The
marginal tax rates in blue above have been adjusted to reflect these changes.
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