Understanding your tax bracket and rate is essential regardless of your income level. Both play a major part in determining your final tax bill.

Canadians pay tax to the federal government as well as the province or territory where they live, which is why you’ll see tax rates for both.

To help you figure out how much you can expect to pay, here are the tax brackets, both federal and provincial, for both the 2023 and 2024 tax years.

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