Income Tax Brackets 2024 Canada. If you make $60,000 this year, you’ll pay $15% tax on the first $50,197 of income and 20.5% on the remaining $9,803. As of 2024, the basic personal amount in canada is set at $ 15,705.00.
In 2023, the lowest federal tax bracket ranges from $0 to $53,359. Federal and provincial/territorial income tax rates and brackets for 2024 current as of march 31, 2024 federal and provincial/territorial income tax rates and brackets for 2024 current as of march 31, 2024 opens in a new window.