On January 1, 2009, all indexed personal income tax amounts, including tax bracket thresholds and amounts used to calculate non-refundable tax credits, were adjusted by 2.5%.
The Canada Child Tax Benefit and the goods and services tax credit will take effect July 1, 2009.
For 2009 the federal tax bracket thresholds are:
- 22% for taxable income above $38,832;
-26% for taxable income above $77,664; and
-29% for taxable income above $126,264.
