Income Tax Calculator British Columbia

Net Salary after taxes : _______

Salary After Taxes and contributions

Federal Tax $0.00
Provincial tax $0.00
CPP contributions $0.00
EI premium $0.00
Net Salary $0.00
Tax Per Region:

The Federal Income Tax

The federal personal income tax that is administered by Canada Revenue Agency (CRA). Almost all Canadians are required to file taxes each year. All payroll taxes are witheld from their monthly salary. Income taxes are calculated on specific tax brackets as a progressisve tax.

A financial advisor can can help you understand the taxes structure and also how to invest so to maximize the your overall financial position.

Calculating Income Tax Rate

Canada has a progressive income tax the higher the income the higher tax rate is applied. The rates are marginal that means the a tax rate is not applied to the total amount of salary but in specific brackets. These brackets also called marginal tax rates that applied each threshold of the income

Federal tax rate
48,535.00 15%
97,069.00 20.5%
150473.00 26%
214,368.00 29%
> 214,368.00 33%

The Provincial Income tax rate

After the federal tax you have also to pay also provincial tax or territorial which is different from state to state.

Bc tax brackets

Provincial tax rate
41,725.00 5.06%
83,451.00 7.07%
93,476.00 10.50%
116,344.00 12.29%
157,748.00 14.70%
> 157,748.00 16.80%

Tax credits

At provincial and federal are provided tax credits. These are amounts that used to reduce the level of taxes that you have to pay, the two categories are refundable and non-refundable.

The Canada Pension Plan (CPP)

Max Premium $2898.00

Employment Insurance (EI) premium

Max Premium $856.36

Tax Credits

Your amount that you have to pay as income tax can be reduced by tax credits.

Disclaimer This calculator is designed to be informational tool only, and when used alone, do not constitute advice. We strongly recommend that you seek the advice of a a professional accountant. Website and its affiliates are not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Website is not responsible for any human or mechanical errors or omissions.