Canada Adjusts Federal, Provincial Income Tax Thresholds for 2020

The ranges of income applicable to Canada’s federal personal income tax brackets and the brackets for eight provinces and territories are to be adjusted for 2020, the Canada Revenue Agency said.

The personal income tax brackets included in the 2020 update to Guide T4127, Payroll Deductions Formulas account for the following percentage increases in the bracket income thresholds: federal, 1.9%; British Columbia, 2.5%; Manitoba, 2.2%; New Brunswick, 1.9%; Newfoundland and Labrador, 0.9%; Northwest Territories, 1.9%; Nunavut, 1.9%; Ontario, 1.9%; and Yukon, 1.9%.

The income tax brackets for Alberta, Nova Scotia, Prince Edward Island, and Saskatchewan are not to be adjusted ...