Northwest Territories 2024 & 2023 Tax Rates & Tax Brackets

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

Northwest Territories uses the Federal indexation factor to increase their tax brackets and personal tax credit amounts.

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 - Northwest Territories Tax Rates
2024 Taxable Income	2024 Tax Rates	2023 Taxable Income	2023 Tax Rates
first $50,597	5.90%	first $48,326	5.90%
over $50,597 up to $101,198	8.60%	over $48,326 up to $96,655	8.60%
over $101,198 up to $164,525	12.20%	over $96,655 up to $157,139	12.20%
over $164,525	14.05%	over $157,139	14.05%

TaxTips.ca - Combined Federal & Northwest Territories Tax Brackets and Tax Rates
2024 Taxable Income (1)	NT 2024 Marginal Tax Rates					2023 Taxable Income (1)	NT 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 $50,597	20.90%	10.45%	13.93%	-7.76%	6.75%	first $48,326	20.90%	10.45%	-7.76%	6.75%
over $50,597 up to $55,867	23.60%	11.80%	15.73%	-4.03%	9.86%	over $48,326 up to $53,359	23.60%	11.80%	-4.03%	9.86%
over $55,867 up to $101,198	29.10%	14.55%	19.40%	3.56%	16.18%	over $53,359 up to $96,655	29.10%	14.55%	3.56%	16.18%
over $101,198 up to $111,733	32.70%	16.35%	21.80%	8.53%	20.32%	over $96,655 up to $106,717	32.70%	16.35%	8.53%	20.32%
over $111,733 up to $164,525	38.20%	19.10%	25.47%	16.12%	26.65%	over $106,717 up to $157,139	38.20%	19.10%	16.12%	26.65%
over $164,525 up to $173,205	40.05%	20.03%	26.70%	18.67%	28.77%	over $157,139 up to $165,430	40.05%	20.03%	18.67%	28.77%
over $173,205 up to $246,752	43.37%	21.69%	28.91%	23.25%	32.59%	over $165,430 up to $235,675	43.37%	21.69%	23.25%	32.59%
over $246,752	47.05%	23.53%	31.37%	28.33%	36.82%	over $235,675	47.05%	23.53%	28.33%	36.82%
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 Northwest Territories dividend tax credits. Copyright © 2002 Boat Harbour Investments Ltd.

TaxTips.ca Northwest Territories Basic Personal Amount
2024 Personal Amount	2024 Tax Rate	2023 Personal Amount	2023 Tax Rate
$17,373	5.90%	$16,593	5.90%

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.

Revised: October 15, 2024