This is Newfoundland and Labrador income tax calculator for Newfoundland and Labrador province residents in 2012-2024 years. Current tax rates in Newfoundland and Labrador and federal tax rates are listed below and check.
IMPORTANT: This tax calculator is used for income tax estimation. Please use Intuit TurboTax if you want to fill your tax return and get tax rebate for previous year. It is free for simple tax returns or gives you 15% discount for more complicated tax returns.
Use appropriate free software from this list to file your tax return.
Newfoundland and Labrador income tax rates 2024
Newfoundland and Labrador indexed its tax brackets using the same formula as that used federally, but uses the provincial inflation rate rather than the federal rate in the calculation. Newfoundland and Labrador’s inflation factor was 2.3% for 2024. Basic personal amount is $10,818 for 2024.
| Taxable income | Rate |
|---|---|
| from $0 to $43,198 | 8.70% |
| from $43,199 to $86,395 | 14.50% |
| from $86,396 to $154,244 | 15.80% |
| from $154,245 to $215,943 | 17.80% |
| from $215,944 to $275,870 | 19.80% |
| from $275,871 to $551,739 | 20.80% |
| from $551,740 to $1,103,478 | 21.30% |
| over $1,103,478 | 21.80% |
Federal income tax rates in Canada for 2024
In 2024 Canadian federal income tax brackets and base amount were increased by 4.7%.
Federal personal base amount is $15,705.
| Taxable income | Rate |
|---|---|
| 0 – $55,867 | 15.00% |
| $55,867 – $111,733 | $6,024.30 + 20.50% for income over $55,867 |
| $111,733 – $173,205 | $17,476.83 + 26.00% for income over $111,733 |
| $173,205 – $246,752 | $33,459.55 + 29.00% for income over $173,205 |
| over $246,752 | $54,788.18 + 33.00% for income of $246,752 and over |
Historical Newfoundland and Labrador tax brackets are listed here and historical federal tax brackets and rates can be found here.