What Are The Tax Brackets For 2024 In Canada And Usa. 10 rows the federal tax brackets and personal tax credit amounts are increased for 2025 by. 15% on the portion of taxable income that is $55,867 or less 20.5% on the portion of taxable income over $55,867.

Your tax rate will vary by how much income you declare at the end of the year on your t1 general income tax return and where you live in canada. The basic personal amount for 2024 is $12,580, up from $11,981 in 2023.