British Columbia Tax Brackets And Tax Rates
In British Columbia, Canada, income tax is levied on a progressive scale, which means the rate of tax increases as the taxable income increases. This includes both federal and provincial taxes.
Capital gains and dividend income are generally taxed more favourably.
British Columbia Tax Brackets And Tax Rates
Below are the provincial marginal tax rates for British Columbia
| 2023 Taxable Income | 2023 Tax Rates |
|---|---|
| first $45,654 | 5.06% |
| over $45,654 up to $91,310 | 7.70% |
| over $91,310 up to $104,835 | 10.50% |
| over $104,835 up to $127,299 | 12.29% |
| over $127,299 up to $172,602 | 14.70% |
| over $172,602 up to $240,716 | 16.80% |
| over $240,716 | 20.50% |
Total marginal tax rates are combination of both the federal and provincial marginal tax rates.
Combined Federal & British Columbia Income Tax Rates
| 2023 Taxable Income | Income Tax Rate |
|---|---|
| first $45,654 | 20.06% |
| over $45,654 up to $53,359 | 22.70% |
| over $53,359 up to $91,310 | 28.20% |
| over $91,310 up to $104,835 | 31.00% |
| over $104,835 up to $106,717 | 32.79% |
| over $106,717 up to $127,299 | 38.29% |
| over $127,299 up to $165,430 | 40.70% |
| over $165,430 up to $172,602 | 44.02% |
| over $172,602 up to $235,675 | 46.12% |
| over $235,675 up to $240,716 | 49.80% |
Combined Federal & British Columbia Dividend Tax Rates
| 2023 Taxable Income | Eligible Dividend Tax Rate | Non-Eligible Dividends Tax Rate |
|---|---|---|
| first $45,654 | -9.60% | 10.43% |
| over $45,654 up to $53,359 | -5.96% | 13.47% |
| over $53,359 up to $91,310 | 1.63% | 19.80% |
| over $91,310 up to $104,835 | 5.49% | 23.02% |
| over $104,835 up to $106,717 | 7.96% | 25.07% |
| over $106,717 up to $127,299 | 15.55% | 31.40% |
| over $127,299 up to $165,430 | 18.88% | 34.17% |
| over $165,430 up to $172,602 | 23.46% | 37.99% |
| over $172,602 up to $235,675 | 26.36% | 40.41% |
| over $235,675 up to $240,716 | 31.44% | 44.64% |
Combined dividend marginal tax rates for British Columbia are based on a % of actual dividends received and not the grossed up taxable amount.
Combined Federal & British Columbia Capital Gains Tax Rates
| 2023 Taxable Income | Capital Gains Tax Rate |
|---|---|
| first $45,654 | 10.03% |
| over $45,654 up to $53,359 | 11.35% |
| over $53,359 up to $91,310 | 14.10% |
| over $91,310 up to $104,835 | 15.50% |
| over $104,835 up to $106,717 | 16.40% |
| over $106,717 up to $127,299 | 19.15% |
| over $127,299 up to $165,430 | 20.35% |
| over $165,430 up to $172,602 | 22.01% |
| over $172,602 up to $235,675 | 23.06% |
| over $235,675 up to $240,716 | 24.90% |
Capital gains marginal tax rates for British Columbia are based on a % of total capital gains and not taxable capital gains.
I created a Google Sheet with the above British Columbia Tax Rates for view and download
