What Are The Tax Brackets For 2024 Ontario Canada. In ontario, tax brackets are based on net income for income tax purposes. Here we’ve collected everything you need to know about this year’s income tax rates.
16 rows the ontario tax brackets and personal tax credit amounts are increased for 2025 by an indexation factor of 1.028 (2.8% increase), except for the $150,000 and $220,000 bracket amounts, which are not indexed for inflation. To account for inflation, ontario’s tax brackets and personal tax credit amounts are adjusted annually based on indexation factors, like the 4.5% increase applied in 2024.