2024 Tax Rates Canada Ontario. For 2024, the federal income thresholds, the personal amounts, and the canada employment amount have been changed based on changes in the consumer price index. The tax is calculated separately from federal income tax.

The ontario tax brackets and personal tax credit amounts are increased for 2024 by an indexation factor of 1.045 (4.5% increase), except. The ontario tax brackets and personal tax credit amounts are increased for 2025 by an indexation factor of 1.028 (2.8% increase), except for the $150,000 and $220,000 bracket amounts, which are not indexed for.