Federal income tax
- 2021 Federal income tax brackets*
- 2021 Federal income tax rates. $49,020 or less. 15% $49,020 to $98,040. 20.5% $98,040 to $151,978. 26% $151,978 to $216,511. 29% More than $216,511. 33% * These amounts are adjusted for inflation and other factors in each tax year.
What is the tax rate in Canada 2022?
Canadian Tax Brackets in 2022 15% on the first $50,197, plus. 20.5% on income over $50,197 up to $100,392, plus. 26% on income over $100,392 up to $155,625, plus. 29% on income over $155,625 up to $221,708, plus.
What is the tax rate for 2021 taxes?
Key Takeaways. The IRS taxes the richest Americans at 37%, whereas the top federal tax rate in Canada is 33%. Wealthy Americans have access to many tax deductions that Canada's Alternative Minimum Tax does not allow.