Tax Facts

20162017

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Chartered Professional Accountants Canada . . . . . . . . . . . . . cpacanada .ca

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Canadian Tax Foundation . . . . . . . . . . . . . . . . . . . . . . . . . . . . ctf .ca

International Fiscal Association Canada . . . . . . . . . . . . . . . . . ifacanada .org

U .S . Internal Revenue Service . . . . . . . . . . . . . . . . . . . . . . . . irs .gov

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Tax Facts

20162017

Chapter 1 Individuals

Federal and Provincial/Territorial Income Tax Rates and Brackets for 2016 and 2017 ...................2

Federal and Provincial Non-Refundable Tax Credit Rates and Amounts for 2016 .........................6

Quebec Non-Refundable Tax Credit Rates and Amounts for 2016 ............................................13

Quebec Refundable Tax Credit Rates and Amounts for 2016 ....................................................16

Charitable Donations .................................................................................................................20

Provincial Health Premiums .......................................................................................................23

Employment WithholdingsFederal .........................................................................................26

Employment WithholdingsQuebec ........................................................................................27

2016 Personal Tax TableFederal Plus Provincial Tax .................................................................28

Federal and Provincial Alternative Minimum Tax ........................................................................30

Combined Top Marginal Tax Rates for Individuals2016 ...........................................................32

Individual Marginal Tax Rates for Salary2016 .........................................................................34

Individual Marginal Tax Rates for Interest2016 ......................................................................35

Individual Marginal Tax Rates for Capital Gains2016 .............................................................36

Individual Marginal Tax Rates for Eligible Dividends2016 ......................................................37

Individual Marginal Tax Rates for Non-Eligible Dividends2016 ..............................................38

Eligible Dividend Tax Credit Rates and Amount of Dividendsthat may be Received Without Incurring Tax in 2016 .................................................................40

Non-Eligible Dividend Tax Credit Rates and Amount of Dividendsthat may be Received Without Incurring Tax in 2016 .................................................................42

AutomobilesDeductions and Benefits....................................................................................44

Canada Child Benefit .................................................................................................................46

Old Age Security Benefits .........................................................................................................48

Canada/Quebec Pension Plan Benefits .....................................................................................50

Retirement and Savings PlansContribution Limits .................................................................52

Growth of a Single $1,000 Contribution in a Tax-Deferred Plan .................................................54

Growth of Annual $1,000 Contributions in a Tax-Deferred Plan .................................................55

Instalment Requirements ..........................................................................................................56

Filing and Payment Deadlines and PenaltiesPersonal Tax Returns.........................................59

Table of Contents

2016 KPMG LLP, a Canadian limited liability partnership and a member firm of the KPMG network of independent member firmsaffiliated with KPMG International Cooperative (KPMG International), a Swiss entity. All rights reserved.

Table of Contents

Chapter 2 Corporations

Federal and Provincial/Territorial Tax Rates for Income Earned by a CCPCEffective January 1, 2016 and 2017 ...........................................................................................62

Combined Federal and Provincial/Territorial Tax Rates for Income Earnedby a CCPC Effective January 1, 2016 and 2017.....................................