|
Provincial Changes
 |
Ontario |
| Taxable Income |
2006 |
2005 |
| Incomes under $34,758 |
6.05% |
6.05% |
| Incomes between $34,758 and $69,517 |
9.15% |
9.15% |
| Incomes above $69,517 |
11.16% |
11.16% |
|
Ontario Non-Refundable Tax Credit |
| |
2006 |
2005 |
|
Basic Personal Amount |
$8,377 |
$8,196 |
| Spousal |
$7,113 |
$6,960 |
|
Equivalent-to-Spouse |
$7,113 |
$6,960 |
| Age (65 or older by end of
taxation year) |
$4,090 |
$4,002 |
| Disability Credit |
$6,768 |
$6,622 |
| Disability
Supplement |
$3,948 |
$3,863 |
| Caregiver
credit |
$3,948 |
$3,863 |
| Infirm Dependant Credit |
$3,948 |
$3,863 |
| Pension
Credit |
$1,158 |
$1,133 |
| Tuition Credit |
Actual |
Actual |
| Education |
|
|
|
Full-time student |
$451/month |
$441/month |
|
Part-time student |
$135/month |
$132/month |
Ontario Health Premium
Beginning July 1, 2004, the Ontario government will collect, through
the income tax system, an Ontario Health Premium that will be based
on an individual's taxable income.
|
Ontario Health Premium |
| Taxable Income |
2004 Tax Year |
2005 and Later Tax Years |
| first $20,000 |
no premium |
no premium |
| over $25,000 up to $36,000 |
$150 |
$300 |
| over $38,500 up to $48,000 |
$225 |
$450 |
| over $48,600 up to $72,000 |
$300 |
$600 |
| over $72,600 up to $200,000 |
$375 |
$750 |
| over $200,600 |
$450 |
$900 |
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|
