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Marginal Tax Rates for 2020 (BC)

Taxable
Income

Fed. Tax
Rate %

Prov. Tax
 Rate%

Total Tax(%)

Taxes Paid(%)

Capital Gains(%)

Eligible Dividend
(actual not grossed)

Non-Eligible
Div. (%)

0-41,725155.0620.068,37010.03-9.6010.43
41,725-48,535157.7022.709,91511.35-5.9613.47

48,535-83,451

20.57.7028.2019,76114.101.6319.80
83,451-95,81220.510.5031.0023,59215.505.4923.02
95,812-97,06920.512.2932.7924,00416.407.9625.07
97,069-116,3442612.2938.2931,38419.1515.5531.40
116,344-150,4732614.7040.7045,27420.3518.8834.17
150,473-157,7482914.7043.7048,45321.8523.0237.62
157,748-214,3682916.8045.8074,38522.9025.9240.04
Over 214,3683316.8049.80 24.9031.4444.64

Tax Credits

Personal Tax Credit             

  • Federal              12,298 x 15% =  1,844
  • Provincial         10,949 x 5.06% = 554

Spousal     

  • Federal             12,298  x 15% =  1,844
  • Provincial           9,376  x 5.06% = 474

Age 65+ (less than 38,508)

  • Federal                  7,637 x 15% =  1,145
  • Provincial            4,910 x 5.06% =  248

OAS Clawback

  • Starts at 77,580


Other Items

CPP & OAS Rates

  • Max CPP       $1,175.83/mo.
  • Max OAS       $    613.53/mo.


Source:  https://www2.gov.bc.ca/gov/content/taxes/income-taxes/personal/tax-rates 

RRSP Contrib. Limits

  • $27,230