Ontario 2023 and 2022 Tax Rates & Tax Brackets

The Ontario tax brackets and personal tax credit amounts are increased for 2023 by an indexation factor of 1.065 (6.5% increase), except for the $150,000 and $220,000 bracket amounts, which are not indexed for inflation.

The Federal tax brackets and personal tax credit amounts are increased for 2023 by an indexation factor of 1.063 (6.3% increase).

See Indexation of the Personal Income Tax System for how the indexation factors are calculated.

The indexation factors, tax brackets and tax rates for 2023 have been confirmed to Canada Revenue Agency information.

Tax Tip: read the article Understanding the Tables of Personal Income Tax Rates, especially if you are trying to compare the rates below to the marginal tax rates in the Basic Tax Calculator or the Detailed Tax Calculators.

TaxTips.ca - Ontario Tax Rates
2023 Taxable Income	2023 Tax Rates	2022 Taxable Income	2022 Tax Rates
first $49,231	5.05%	first $46,226	5.05%
over $49,231 up to $98,463	9.15%	over $46,226 up to $92,454	9.15%
over $98,463 up to $150,000	11.16%	over $92,454 up to $150,000	11.16%
over $150,000 up to $220,000	12.16%	over $150,000 up to $220,000	12.16%
over $220,000	13.16%	over $220,000	13.16%

TaxTips.ca - Combined Federal & Ontario Tax Brackets and Tax Rates Including Surtaxes
2023 Taxable Income (1)	ON 2023 Marginal Tax Rates				2022 Taxable Income (1)	ON 2022 Marginal Tax Rates
	Other Income	Capital Gains	Canadian Dividends			Other Income	Capital Gains	Canadian Dividends
	Other Income	Capital Gains	Eligible	Non-Eligible		Other Income	Capital Gains	Eligible	Non-Eligible
first $49,231	20.05%	10.03%	-6.86%	9.24%	first $46,226	20.05%	10.03%	-6.86%	9.24%
over $49,231 up to $53,359	24.15%	12.08%	-1.20%	13.95%	over $46,226 up to $50,197	24.15%	12.08%	-1.20%	13.95%
over $53,359 up to $86,698	29.65%	14.83%	6.39%	20.28%	over $50,197 up to $81,411	29.65%	14.83%	6.39%	20.28%
over $86,698 up to $98,463	31.48%	15.74%	8.92%	22.38%	over $81,411 up to $92,454	31.48%	15.74%	8.92%	22.38%
over $98,463 up to $102,135	33.89%	16.95%	12.24%	25.16%	over $92,454 up to $95,906	33.89%	16.95%	12.24%	25.16%
over $102,135 up to $106,717	37.91%	18.95%	17.79%	29.78%	over $95,906 up to $100,392	37.91%	18.95%	17.79%	29.78%
over $106,717 up to $150,000	43.41%	21.70%	25.38%	36.10%	over $100,392 up to $150,000	43.41%	21.70%	25.38%	36.10%
over $150,000 up to $165,430	44.97%	22.48%	27.53%	37.90%	over $150,000 up to $155,625	44.97%	22.48%	27.53%	37.90%
over $165,430 up to $220,000	48.29%	24.14%	32.11%	41.72%	over $155,625 up to $220,000	48.35%	24.17%	32.19%	41.79%
over $220,000 up to $235,675	49.85%	24.92%	34.26%	43.51%	over $220,000 up to $221,708	49.91%	24.95%	34.34%	43.58%
over $235,675	53.53%	26.76%	39.34%	47.74%	over $221,708	53.53%	26.76%	39.34%	47.74%
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%. The surtax is calculated before deducting dividend tax credits. For more information see Ontario dividend tax credits. Marginal tax rates do not include the Ontario Health Premium, which increases the above rates by up to 25%. Copyright © 2002 Boat Harbour Investments Ltd.

TaxTips.ca Ontario Surtaxes
2023			2022
Surtax rate (included in above rates)	20%	36%	Surtax rate (included in above rates)	20%	36%
Surtax is on ON tax greater than	$5,315	$6,802	Surtax is on ON tax greater than	$4,991	$6,387
Person with only basic personal amount - surtax starts at taxable income of	$86,698	$102,135	Person with only basic personal amount - surtax starts at taxable income of	$81,411	$95,906
The 36% surtax is in addition to the 20% surtax, for a total surtax of 56%. The surtax increases the 13.16% tax rate to 20.53% (13.16% x 1.56). Surtaxes are calculated before deducting dividend tax credits.

TaxTips.ca Ontario Basic Personal Amount
2023 Personal Amount	2023 Tax Rate	2022 Personal Amount	2022 Tax Rate
$11,865	5.05%	$11,141	5.05%
Federal Basic Personal Amount
2023 Personal Amount (1)	2023 Tax Rate	2022 Personal Amount (1)	2022 Tax Rate
$15,000	15%	$14,398	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.

Revised: September 20, 2024