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Combined Federal and Ontario Personal Tax Rates for 2021
20.05% on the first $45,142 of taxable income, +
24.15% over $45,142 up to $49,020+
29.65% over $49,020 up to $79,505 +
31.48% over $79,505 up to $90,287 +
33.89% over $90,287 up to $93,655 +
37.91% over $93,655 up to $98,040 +
43.41% over $98,040 up to $150,000 +
44.97% over $150,000 up to $151,978 +
48.29% $151,978 up to $216,511 +
51.97% $216,511 up to $220,000 +
53.53% over $220,000
Combined Federal and Ontario Corporate Tax Rate for 2021
Please note that most small businesses are considered as CCPC and taxed at a net tax rate of 12.2% on the first $500,000 of active business income
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