BC 2024 and 2023 Tax Rates & Tax Brackets

BC Income Tax Act s. 4.1, 4.3, 4.52, 4.69

The BC tax brackets and personal tax credit amounts are increased for 2024 by an indexation factor of 1.05 (5% increase).

The Federal tax brackets and personal tax credit amounts are increased for 2024 by an indexation factor of 1.047 (4.7% increase).

The 2024 Federal Budget proposed an increase in the capital gains inclusion rate to 66 2/3% for the portion of gains realized after June 24, 2024 in excess of $250,000, for an individual. We've added an extra column below, to show the marginal tax rate for those gains. The inclusion rate is still 50% for the portion of gains up to $250,000 after June 24, 2024.

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

The indexation factors, tax brackets and tax rates for 2024 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 - BC Tax Rates
2024 Taxable Income	2024 Tax Rates	2023 Taxable Income	2023 Tax Rates
first $47,937	5.06%	first $45,654	5.06%
over $47,937 up to $95,875	7.70%	over $45,654 up to $91,310	7.70%
over $95,875 up to $110,076	10.50%	over $91,310 up to $104,835	10.50%
over $110,076 up to $133,664	12.29%	over $104,835 up to $127,299	12.29%
over $133,664 up to $181,232	14.70%	over $127,299 up to $172,602	14.70%
over $181,232 up to $252,752	16.80%	over $172,602 up to $240,716	16.80%
over $252,752	20.50%	over $240,716	20.50%

TaxTips.ca - Combined Federal & BC Tax Brackets and Tax Rates
2024 Taxable Income (1)	BC 2024 Marginal Tax Rates					2023 Taxable Income (1)	BC 2023 Marginal Tax Rates
	Other Income	Capital Gains		Canadian Dividends			Other Income	Capital Gains	Canadian Dividends
	Other Income	All Pre- Jun 25	>$250K Post- Jun 24	Eligible	Non-Eligible		Other Income	Capital Gains	Eligible	Non-Eligible
first $47,937	20.06%	10.03%	13.37%	-9.60%	10.43%	first $45,654	20.06%	10.03%	-9.60%	10.43%
over $47,937 up to $55,867	22.70%	11.35%	15.13%	-5.96%	13.47%	over $45,654 up to $53,359	22.70%	11.35%	-5.96%	13.47%
over $55,867 up to $95,875	28.20%	14.10%	18.80%	1.63%	19.80%	over $53,359 up to $91,310	28.20%	14.10%	1.63%	19.80%
over $95,875 up to $110,076	31.00%	15.50%	20.67%	5.49%	23.02%	over $91,310 up to $104,835	31.00%	15.50%	5.49%	23.02%
over $110,076 up to $111,733	32.79%	16.40%	21.86%	7.96%	25.07%	over $104,835 up to $106,717	32.79%	16.40%	7.96%	25.07%
over $111,733 up to $133,664	38.29%	19.15%	25.53%	15.55%	31.40%	over $106,717 up to $127,299	38.29%	19.15%	15.55%	31.40%
over $133,664 up to $173,205	40.70%	20.35%	27.13%	18.88%	34.17%	over $127,299 up to $165,430	40.70%	20.35%	18.88%	34.17%
over $173,205 up to $181,232	44.02%	22.01%	29.35%	23.46%	37.99%	over $165,430 up to $172,602	44.02%	22.01%	23.46%	37.99%
over $181,232 up to $246,752	46.12%	23.06%	30.75%	26.36%	40.41%	over $172,602 up to $235,675	46.12%	23.06%	26.36%	40.41%
over $246,752 up to $252,752	49.80%	24.90%	33.20%	31.44%	44.64%	over $235,675 up to $240,716	49.80%	24.90%	31.44%	44.64%
over $252,752	53.50%	26.75%	35.67%	36.54%	48.89%	over $240,716	53.50%	26.75%	36.54%	48.89%
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 BC dividend tax credits. Copyright © 2002 Boat Harbour Investments Ltd.

TaxTips.ca British Columbia Basic Personal Amount
2024 Personal Amount	2024 Tax Rate	2023 Personal Amount	2023 Tax Rate
$12,580	5.06%	$11,981	5.06%

Federal Basic Personal Amount
2024 Personal Amount (1) Minimum / Maximum		2024 Tax Rate	2023 Personal Amount (1) Minimum / Maximum		2023 Tax Rate
$14,156	$15,705	15%	$13,520	$15,000	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.

BC tax rates can also be seen on the BC Ministry of Finance website.

Revised: October 15, 2024