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

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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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