British Columbia Personal Tax Brackets as of 2019
As of the 2019 tax year, British Columbia residents are subject to the following personal income tax rates:
- 5.06% on income from $0 to $40,707
- 7.70% on income from $40,707.01 to $81,416
- 10.50% on income from $81,416.01 to $93,476
- 12.29% on income from $93,476.01 to $113,506
- 14.70% on income from $113,506.01 to 153,900
- 16.80% on income over $153,900
Adjusting Income Tax Brackets
Annually, British Columbia adjusts the earnings associated with each income tax bracket by using a consumer price index (CPI). A CPI helps to measure the cost of living adjustments. In short, the cost of numerous goods are added up each year and compared to the cost of the same goods in other years, and the difference between each year is expressed as a percentage.
To adjust the brackets for 2016, the government used a B.C. CPI of 0.9%, and it increased every number used in the income tax brackets by this figure. For example, in 2015, earnings up to $37,869 were taxed at a rate of 5.06%. To calculate the bracket for 2016, the government multiplied $37,869 by 0.009 or 0.9%. The product is $340.82. This rounds up to $341. When $341 is added to $37,869, the result is $38,210. This amount became the threshold for the bottom tax bracket in 2016, and all of the B.C. income tax brackets were adjusted in this way.
Federal Income Tax Rates
The Canada Revenue Agency federal income tax rates for 2019 are as follows:
- 15% on the first $47,630 of taxable income, plus
- 20.5% on the next $47,629 of taxable income (on the portion of taxable income over 47,630 up to $95,259), plus
- 26% on the next $52,408 of taxable income (on the portion of taxable income over $95,259 up to $147,667), plus
- 29% on the next $62,704 of taxable income (on the portion of taxable income over 147,667 up to $210,371), plus
- 33% of taxable income over $210,371
Provincial tax brackets
- British Columbia
- Newfoundland and Labrador
- New Brunswick
- Northwest Territories
- Nova Scotia
- Prince Edward Island
Looking for an income tax calculator for your province or territory?
Dina is one of the editors of the TurboTax blog and heads the social media department here at TurboTax Canada. So, if you’re ever on Facebook, Instagram, Twitter or Snapchat make sure to stop by on our page to engage and join in on the fun (it’s also a great way to stay in tune and get updates on the latest content being released).