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  • Tax Facts

    20162017

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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.....................................