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Your tax bracket depends on your taxable income and your filing status: single, married filing jointly or qualifying widow(er), married filing separately and head of household. Generally, as you move up the pay scale, you also move up the tax scale.
The tax rates in British Columbia range from 5.06% to 20.5% of income and the combined federal and provincial tax rate is between 20.06% and 53.5%. British Columbias marginal tax rate increases as your income increases so you pay higher taxes on the level of income that falls into a higher tax bracket.
2023 British Columbia provincial and federal income tax brackets British Columbia tax bracketBritish Columbia tax rates$45,654 or less5.06%$45,655 to $91,3107.70%$91,311 to $104,83510.50%$104,836 to $127,29912.29%3 more rows
What are combined federal and provincial tax rates? All provinces and territories also have their own income tax brackets. This means that Canadian taxpayers pay income tax to the federal government as well as to the government of the province/territory where they reside.
Sales Taxes in British Columbia British Columbia is one of the provinces in Canada that charges separate 7% Provincial Sales Tax (PST) and 5% federal Goods and Services Tax (GST). Most goods and services are charged both taxes, with a number of exceptions.
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Every year, taxpayers file a tax return to calculate their tax payable and report their income to the government. This return will include an Income Tax and Benefit Return along with other forms and schedules to help itemize income and expenses and calculate credits. Income Tax And Benefit Return.
Personal income tax brackets and rates - 2023 tax year Taxable Income - 2023 BracketsTax Rate$0 to $45,6545.06%$45,654.01 to $91,3107.70%$91,310.01 to $104,83510.50%$104,835.01 to $127,29912.29%3 more rows

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