Personal Tax Rates (Ontario 2012)
Taxable Income |
Salary |
Dividend |
Capital Gains |
$0 to $10,822 |
0% |
0% |
0% |
10,823 to 42,707 |
22 |
10 |
11 |
42,708 to 85,414 |
32 |
18 |
16 |
85,415 to 132,406 |
43 |
28 |
22 |
132,407 and up |
46 |
31 |
23 |
Lower tax rates are not affected by moving to next bracket.
RRSP: 2012 maximum $22,970 (2011 $22,450)
Clawback: Old Age Security repayable if income > $69K; lost when income exceeds $109K.