2016 Federal Income Tax Brackets and Rates for Individuals

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What are the proposed federal personal income tax bracket thresholds and rates for the 2016 tax year?

The 2016 federal income tax brackets and rates for individuals are:

  • 15% on taxable income of $0 to $45,282;
  • 20.5% (proposed) on taxable income above $45,282 but not more than $90,563;
  • 26% on taxable income above $90,563 but not more than $140,388;
  • 29% on taxable income above $140,388 but not more than $200,000; and
  • 33% on taxable income above $200,000 (proposed).

These income tax threshold amounts will be indexed annually for years after 2016.

Source: CRA