Combined Federal and Ontario Personal Tax Rates for 2022

20.05% on the first $46,226 of taxable income, +

24.15% over $46,226 up to $50,197+

29.65% over $50,197 up to $81,411 +

31.48% over $81,411 up to $92,454 +

33.89% over $92,454 up to $95,906 +

37.91% over $95,906 up to $100.392 +

43.41% over $100,392 up to $150,000 +

44.97% over $150,000 up to $155,625 +

48.35% $155,652 up to $220,000 +

49.91% $220,000 up to $221,708 +

53.53% over $221,708

Combined Federal and Ontario Corporate Tax Rate for 2022

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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