Personal Tax
Personal tax rates for 2023 at combined Federal and Provincial (Ontario) rates.
Marginal rates for dividends is a % of actual dividends received (not grossed up amount).
Marginal tax rates for capital gains is a % of total capital gains (not taxable amount).
Marginal tax rates do not include the Ontario Health Premium, which increases provincial rates by up to 25%.
Basic Income Tax Calculator for all provinces & territories, compare taxes & marginal tax rates
Meal and travel reimbursement rates - Ontario
Meal expenses
Alcohol cannot be claimed and will not be reimbursed as part of a travel or meal expense. If you choose the simplified method, you may claim a flat rate of $23/meal.
Vehicle expenses
For 2023, if you choose the simplified method, you may claim a flat rate for reimbursement of 68 cents per Km on the first 5,00o Km and 62 cents thereafter. For medical travel expenses in Ontario it is 59 cents per Km on the first 5,000 Km and 61.5 cents thereafter.
RRSP Limits
2023 - $30,780
2022 - $29,210
2021 - $27,830
Lifetime Capital Gains Exemption - QSBC
2023 - $971,190 (Farming/fishing property $1,000,000)
2022 - $913,630 (Farming/fishing property $1,000,000)
2021 - $892,218 (Farming/fishing property $1,000,000)
Canada Revenue Agency (www.cra.gc.ca)
toll-free in Canada and the U.S. 1-800-959-8281 (Personal)
toll-free in Canada and the U.S. 1-800-959-5525 (Business)
