This is Newfoundland and Labrador income tax calculator for Newfoundland and Labrador province residents in 2012-2023 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 2023
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 5.9% for 2023. Basic personal amount is $10,382 for 2023.
| Taxable income | Rate |
|---|---|
| from $0 to $41,457 | 8.70% |
| from $41,458 to $82,913 | 14.50% |
| from $82,914 to $148,027 | 15.80% |
| from $148,028 to $207,239 | 17.80% |
| from $207,240 to $264,750 | 19.80% |
| from $264,751 to $529,500 | 20.80% |
| from $529,501 to $1,059,000 | 21.30% |
| over $1,059,000 | 21.80% |
Federal income tax rates in Canada for 2023
In 2023 Canadian federal income tax brackets and base amount were increased by 6.3%.
Federal personal base amount is $15,000.
| Taxable income | Rate |
|---|---|
| 0 – $53,359 | 15.00% |
| $53,359 – $106,717 | $5,753.85 + 20.50% for income over $53,359 |
| $106,717 – $165,430 | $16,692.24 + 26.00% for income over $106,717 |
| $165,430 – $235,675 | $31,957.62 + 29.00% for income over $165,430 |
| over $235,675 | $52,328.67 + 33.00% for income of $235,675 and over |
Historical Newfoundland and Labrador tax brackets are listed here and historical federal tax brackets and rates can be found here.