Keely Melessa

Canadian Income Tax Brackets 2024 Ontario. 2023 ontario provincial and federal income tax brackets. Most taxpayers in canada are eligible to claim the federal basic personal amount of $15,705 on their 2024 taxes, which reduces taxable income, if their net income is $173,205.

Your tax bracket is based on “taxable income,” which is your gross income from all sources, minus any tax deductions you may qualify for. In other words, it’s your net income.