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  14. <description>Helping Canadians Save Money</description>
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  30. <item>
  31. <title>How to Calculate Your Income Tax in Every Canadian Province for 2024</title>
  32. <link>https://yoursavings.ca/2024/03/03/how-to-calculate-your-income-tax-in-every-canadian-province-for-2024/</link>
  33. <dc:creator><![CDATA[Community Partners]]></dc:creator>
  34. <pubDate>Sun, 03 Mar 2024 19:49:26 +0000</pubDate>
  35. <category><![CDATA[Community Content]]></category>
  36. <category><![CDATA[deductions]]></category>
  37. <category><![CDATA[gross income]]></category>
  38. <category><![CDATA[income tax]]></category>
  39. <category><![CDATA[online tax calculator]]></category>
  40. <category><![CDATA[taxes]]></category>
  41. <guid isPermaLink="false">https://yoursavings.ca/?p=25689</guid>
  42.  
  43. <description><![CDATA[<p>Navigating Canada&#8217;s tax landscape can be complex, especially with tax rates and rules varying by province. This updated guide for 2024 provides a detailed overview of calculating your income tax across all Canadian provinces, ensuring <a class="mh-excerpt-more" href="https://yoursavings.ca/2024/03/03/how-to-calculate-your-income-tax-in-every-canadian-province-for-2024/" title="How to Calculate Your Income Tax in Every Canadian Province for 2024">[...]</a></p>
  44. <p>The post <a href="https://yoursavings.ca/2024/03/03/how-to-calculate-your-income-tax-in-every-canadian-province-for-2024/">How to Calculate Your Income Tax in Every Canadian Province for 2024</a> appeared first on <a href="https://yoursavings.ca">YourSavings.ca</a>.</p>
  45. ]]></description>
  46. <content:encoded><![CDATA[<div class="wp-block-image">
  47. <figure class="aligncenter size-full"><img fetchpriority="high" decoding="async" width="214" height="385" src="https://yoursavings.ca/wp-content/uploads/2024/03/Income-Taxes-in-Canada.jpg" alt="Income Taxes in Canada" class="wp-image-25691" srcset="https://yoursavings.ca/wp-content/uploads/2024/03/Income-Taxes-in-Canada.jpg 214w, https://yoursavings.ca/wp-content/uploads/2024/03/Income-Taxes-in-Canada-167x300.jpg 167w" sizes="(max-width: 214px) 100vw, 214px" /></figure></div>
  48.  
  49.  
  50. <p>Navigating Canada&#8217;s tax landscape can be complex, especially with tax rates and rules varying by province. This updated guide for 2024 provides a detailed overview of calculating your income tax across all Canadian provinces, ensuring you&#8217;re equipped with the latest information for your financial planning.</p>
  51.  
  52.  
  53.  
  54. <h2 class="wp-block-heading"><strong>Understanding the Basics of Canadian Income Tax</strong></h2>
  55.  
  56.  
  57.  
  58. <p>Canada employs a progressive tax system, where individuals pay increasing rates as their income rises. Income tax is a combination of federal and provincial taxes, with rates differing based on your province of residence. Understanding your taxable income—your <a href="https://www.timetrex.com/work-hours-calculator"><strong>gross income after deductions</strong></a>, credits, and exemptions—is the first step in calculating your tax obligations.</p>
  59.  
  60.  
  61.  
  62. <h2 class="wp-block-heading"><strong>2024 Federal Income Tax Rates</strong></h2>
  63.  
  64.  
  65.  
  66. <p>The federal government has set the following tax rates for 2024:</p>
  67.  
  68.  
  69.  
  70. <ul>
  71. <li>15% on taxable income up to $55,867</li>
  72.  
  73.  
  74.  
  75. <li>20.5% on income over $55,867 and up to $111,733</li>
  76.  
  77.  
  78.  
  79. <li>26% on income over $111,733 and up to $173,205</li>
  80.  
  81.  
  82.  
  83. <li>29% on income over $173,205 and up to $246,752</li>
  84.  
  85.  
  86.  
  87. <li>33% on income over $246,752</li>
  88. </ul>
  89.  
  90.  
  91.  
  92. <h2 class="wp-block-heading"><strong>Provincial and Territorial Tax Rates for 2024</strong></h2>
  93.  
  94.  
  95.  
  96. <p>Provincial and territorial tax rates vary, but they are calculated similarly to federal taxes. Here&#8217;s a closer look at the rates for selected provinces and territories:</p>
  97.  
  98.  
  99.  
  100. <p><strong>Alberta</strong></p>
  101.  
  102.  
  103.  
  104. <ul>
  105. <li>10% up to $148,269</li>
  106.  
  107.  
  108.  
  109. <li>Increasing progressively to 15% for income over $355,845</li>
  110. </ul>
  111.  
  112.  
  113.  
  114. <p><strong>British Columbia</strong></p>
  115.  
  116.  
  117.  
  118. <ul>
  119. <li>Starts at 5.06% up to $47,937</li>
  120.  
  121.  
  122.  
  123. <li>Progresses to 20.5% for income over $252,752</li>
  124. </ul>
  125.  
  126.  
  127.  
  128. <p><strong>Ontario</strong></p>
  129.  
  130.  
  131.  
  132. <ul>
  133. <li>5.05% up to $51,446</li>
  134.  
  135.  
  136.  
  137. <li>Rises to 13.16% for income over $220,000</li>
  138. </ul>
  139.  
  140.  
  141.  
  142. <p><strong>Quebec</strong></p>
  143.  
  144.  
  145.  
  146. <p>Refer to Revenu Québec for specific rates, as Quebec administers its own tax system.</p>
  147.  
  148.  
  149.  
  150. <p><strong>Newfoundland and Labrador</strong></p>
  151.  
  152.  
  153.  
  154. <ul>
  155. <li>Begins at 8.7% up to $43,198</li>
  156.  
  157.  
  158.  
  159. <li>Increases to 21.8% for income over $1,103,478</li>
  160. </ul>
  161.  
  162.  
  163.  
  164. <p><strong>Prince Edward Island</strong></p>
  165.  
  166.  
  167.  
  168. <ul>
  169. <li>9.65% up to $32,656</li>
  170.  
  171.  
  172.  
  173. <li>Caps at 18.75% for income over $140,000</li>
  174. </ul>
  175.  
  176.  
  177.  
  178. <p><strong>Nova Scotia</strong></p>
  179.  
  180.  
  181.  
  182. <ul>
  183. <li>8.79% up to $29,590</li>
  184.  
  185.  
  186.  
  187. <li>Up to 21% for income over $150,000</li>
  188. </ul>
  189.  
  190.  
  191.  
  192. <p><strong>New Brunswick</strong></p>
  193.  
  194.  
  195.  
  196. <ul>
  197. <li>9.4% up to $49,958</li>
  198.  
  199.  
  200.  
  201. <li>Up to 19.5% for income over $185,064</li>
  202. </ul>
  203.  
  204.  
  205.  
  206. <p><strong>Manitoba</strong></p>
  207.  
  208.  
  209.  
  210. <ul>
  211. <li>10.8% up to $47,000</li>
  212.  
  213.  
  214.  
  215. <li>Up to 17.4% for income over $100,000</li>
  216. </ul>
  217.  
  218.  
  219.  
  220. <p><strong>Saskatchewan</strong></p>
  221.  
  222.  
  223.  
  224. <ul>
  225. <li>10.5% up to $52,057</li>
  226.  
  227.  
  228.  
  229. <li>Up to 14.5% for income over $148,734</li>
  230. </ul>
  231.  
  232.  
  233.  
  234. <p><strong>Yukon</strong></p>
  235.  
  236.  
  237.  
  238. <ul>
  239. <li>6.4% up to $55,867</li>
  240.  
  241.  
  242.  
  243. <li>Up to 15% for income over $500,000</li>
  244. </ul>
  245.  
  246.  
  247.  
  248. <p><strong>Northwest Territories and Nunavut</strong></p>
  249.  
  250.  
  251.  
  252. <ul>
  253. <li>Offer lower rates compared to other regions, with Nunavut having the lowest rates, starting at 4% up to $53,268 and capping at 11.5% for income over $173,205.</li>
  254. </ul>
  255.  
  256.  
  257.  
  258. <h2 class="wp-block-heading"><strong>Using Online Tax Calculators</strong></h2>
  259.  
  260.  
  261.  
  262. <p><a href="https://www.timetrex.com/canadian-paycheck-calculator"><strong>Online tax calculators are invaluable tools for estimating your income tax across Canada&#8217;s provinces and territories.</strong></a> By inputting your gross income, deductions, and credits, you can get a ballpark figure of your tax obligations.</p>
  263.  
  264.  
  265.  
  266. <h2 class="wp-block-heading"><strong>Final Thoughts</strong></h2>
  267.  
  268.  
  269.  
  270. <p>With the 2024 tax rates and thresholds in mind, Canadians can better navigate their tax planning and obligations. Whether you&#8217;re in a province with progressive rates like Alberta or a territory with lower rates like Nunavut, staying informed is key to effective financial management. Remember, tax rates are subject to change, so always refer to the latest government resources or consult with a tax professional for personalized advice.</p>
  271. <p>The post <a href="https://yoursavings.ca/2024/03/03/how-to-calculate-your-income-tax-in-every-canadian-province-for-2024/">How to Calculate Your Income Tax in Every Canadian Province for 2024</a> appeared first on <a href="https://yoursavings.ca">YourSavings.ca</a>.</p>
  272. ]]></content:encoded>
  273. </item>
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  277. <dc:creator><![CDATA[Phys.org]]></dc:creator>
  278. <pubDate>Sat, 03 Feb 2024 12:50:02 +0000</pubDate>
  279. <category><![CDATA[Business Technology]]></category>
  280. <guid isPermaLink="false">https://yoursavings.ca/?p=25435</guid>
  281.  
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  284. ]]></description>
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  292. <dc:creator><![CDATA[Phys.org]]></dc:creator>
  293. <pubDate>Sat, 03 Feb 2024 11:17:07 +0000</pubDate>
  294. <category><![CDATA[Business Technology]]></category>
  295. <guid isPermaLink="false">https://yoursavings.ca/?p=25438</guid>
  296.  
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  298. <p>The post <a href="https://yoursavings.ca/2024/02/03/microsoft-ceo-satya-nadella-caps-a-decade-of-change-and-tremendous-growth/">Microsoft CEO Satya Nadella caps a decade of change and tremendous growth</a> appeared first on <a href="https://yoursavings.ca">YourSavings.ca</a>.</p>
  299. ]]></description>
  300. <content:encoded><![CDATA[<p>Satya Nadella marks his tenth year as Microsoft CEO on Sunday, capping a decade of stunning growth as he pivoted the slow-moving software giant into a laser focus on cloud computing and artificial intelligence.</p>
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  307. <dc:creator><![CDATA[Phys.org]]></dc:creator>
  308. <pubDate>Sat, 03 Feb 2024 10:00:01 +0000</pubDate>
  309. <category><![CDATA[Social Sciences]]></category>
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  311.  
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  314. ]]></description>
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  322. <dc:creator><![CDATA[Phys.org]]></dc:creator>
  323. <pubDate>Fri, 02 Feb 2024 18:50:03 +0000</pubDate>
  324. <category><![CDATA[Economics & Business]]></category>
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  326.  
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  329. ]]></description>
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  337. <dc:creator><![CDATA[Phys.org]]></dc:creator>
  338. <pubDate>Fri, 02 Feb 2024 18:06:04 +0000</pubDate>
  339. <category><![CDATA[Internet]]></category>
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  344. ]]></description>
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  347. ]]></content:encoded>
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  354. <category><![CDATA[Social Sciences]]></category>
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  382. <dc:creator><![CDATA[Phys.org]]></dc:creator>
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  385. <guid isPermaLink="false">https://yoursavings.ca/?p=25648</guid>
  386.  
  387. <description><![CDATA[<p>As demand for food from restaurants soars in the U.S., so does the importance of understanding the impacts of foodborne illness outbreaks. A new paper co-written by a University of Illinois Urbana-Champaign expert in food <a class="mh-excerpt-more" href="https://yoursavings.ca/2024/02/02/expert-says-multistate-foodborne-illness-outbreaks-impact-restaurant-stock-price-public-perception/" title="Expert says multistate foodborne illness outbreaks impact restaurant stock price, public perception">[...]</a></p>
  388. <p>The post <a href="https://yoursavings.ca/2024/02/02/expert-says-multistate-foodborne-illness-outbreaks-impact-restaurant-stock-price-public-perception/">Expert says multistate foodborne illness outbreaks impact restaurant stock price, public perception</a> appeared first on <a href="https://yoursavings.ca">YourSavings.ca</a>.</p>
  389. ]]></description>
  390. <content:encoded><![CDATA[<p>As demand for food from restaurants soars in the U.S., so does the importance of understanding the impacts of foodborne illness outbreaks. A new paper co-written by a University of Illinois Urbana-Champaign expert in food marketing and food policy finds that outbreaks spanning multiple states bring swift financial losses, increased media attention and a public-relations hit that makes smaller outbreaks more financially damaging.</p>
  391. <p>The post <a href="https://yoursavings.ca/2024/02/02/expert-says-multistate-foodborne-illness-outbreaks-impact-restaurant-stock-price-public-perception/">Expert says multistate foodborne illness outbreaks impact restaurant stock price, public perception</a> appeared first on <a href="https://yoursavings.ca">YourSavings.ca</a>.</p>
  392. ]]></content:encoded>
  393. </item>
  394. <item>
  395. <title>Crowdfunding after the Marshall fire overwhelmingly helped wealthy households, find researchers</title>
  396. <link>https://yoursavings.ca/2024/02/02/crowdfunding-after-the-marshall-fire-overwhelmingly-helped-wealthy-households-find-researchers/</link>
  397. <dc:creator><![CDATA[Phys.org]]></dc:creator>
  398. <pubDate>Fri, 02 Feb 2024 17:15:03 +0000</pubDate>
  399. <category><![CDATA[Social Sciences]]></category>
  400. <guid isPermaLink="false">https://yoursavings.ca/?p=25533</guid>
  401.  
  402. <description><![CDATA[<p>After Colorado&#8217;s Marshall Fire consumed more than 1,000 homes in suburban Boulder County on Dec. 30, 2021, hundreds of crowdfunding campaigns sprang forth to provide some immediate relief to homeowners who lost everything.</p>
  403. <p>The post <a href="https://yoursavings.ca/2024/02/02/crowdfunding-after-the-marshall-fire-overwhelmingly-helped-wealthy-households-find-researchers/">Crowdfunding after the Marshall fire overwhelmingly helped wealthy households, find researchers</a> appeared first on <a href="https://yoursavings.ca">YourSavings.ca</a>.</p>
  404. ]]></description>
  405. <content:encoded><![CDATA[<p>After Colorado&#8217;s Marshall Fire consumed more than 1,000 homes in suburban Boulder County on Dec. 30, 2021, hundreds of crowdfunding campaigns sprang forth to provide some immediate relief to homeowners who lost everything.</p>
  406. <p>The post <a href="https://yoursavings.ca/2024/02/02/crowdfunding-after-the-marshall-fire-overwhelmingly-helped-wealthy-households-find-researchers/">Crowdfunding after the Marshall fire overwhelmingly helped wealthy households, find researchers</a> appeared first on <a href="https://yoursavings.ca">YourSavings.ca</a>.</p>
  407. ]]></content:encoded>
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  411.  

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