CRA & Revenu Québec, Provincial

Yukon: Personal Income Tax Brackets, Tax Rates, and Credits

If you find yourself wishing there were more hours in day, you should check out Yukon. Also known as the “land of the midnight sun”, Yukon boasts almost continuous sun for three months a year.

Yukon has a tax system similar to other Canadian provinces. Many of the provincial taxes and credits for residents of Yukon compliment similar credits at the federal level, but there are many unique credits for residents of Yukon.

Yukon’s Progressive Tax Rate Structure

As with most provinces, Yukon uses a progressive tax structure and has five tax brackets. The brackets increase each year, based on inflation. Visit the Yukon Government’s Personal Income Tax page for more information.

Yukon’s Income Tax Brackets and Rates for 2020

Tax Rate

Tax Bracket

Taxable Annual Income

6.4%  on the first $48,535   $48,535
9%  on the next $48,534  over $48,535 up to $97,060
10.9%  on the next $53,404  over $97,060 up to $150,473
12.8%  on the next $349,527  over $150,473 up to $500,000
15%  on the portion over $500,000  over $500,000

Yukon Tax Credits

There is an allowable amount of income that you can earn before you must start paying taxes. That is called the “basic personal” or “personal amount.” For the 2020 tax year, the Federal Basic Personal Amount (BPA) is $13,229, while the Yukon amount is $13,329. 

This TurboTax article provides more information on the federal tax rates, as well as links to other provinces and tax calculators: An Overview of Canada’s Tax Brackets.

Affordable, Professional Tax Help

TurboTax is the software of choice for personal taxes, small businesses, and entrepreneurs. It’s the fast, easy, affordable, accurate way to do your taxes. Answer a few simple questions on our product recommender and we can help guide you to the right edition that will reflect your individual circumstances.

You can always start your return in TurboTax Free, and if you feel the need for additional assistance, you can upgrade to any of our paid editions or get Live help from an expert with our Assist & Review or Full Service*. But don’t worry, while using the online version of the software when you choose to upgrade, your information is instantly carried over so you can pick up right where you left off.

*TurboTax Live™ Full Service is not available in Quebec.

 

Provincial tax brackets

Looking for an income tax calculator for your province or territory?

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Northwest Territories Tax Brackets Northwest Territories tax calculator
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Prince Edward Island Tax Brackets Prince Edward Island tax calculator
Québec Tax Brackets Quebec tax calculator
Saskatchewan Tax Brackets Saskatchewan tax calculator
Yukon Tax Brackets Yukon tax calculator