The Federal Government administers personal income tax on behalf of the Province. * These values represent the maximum amount subject to other parameters. Additional 3.8 federal net investment income (NII) tax applies to individuals. Volunteer FirefightersвЂ™ Amount or Search and Rescue Amount Sources: IRS and Social Security Administration updates 2021. The provincial non-refundable tax credits for the 20 taxation years are as follows: Provincial Non-Refundable Credits*ДЄmount for Infirm Dependants Age 18 or Older Tax brackets, non-refundable tax credits (except education, pension income, volunteer firefightersвЂ™ and search and rescue amounts and most expenditure-based credits) and the Low Income Tax Reduction is indexed annually utilizing the Consumer Price Index for Newfoundland and Labrador. The following table details the personal income tax rates for the 20 taxation years. However, a separate set of tax brackets and tax rates are used to calculate provincial tax. Taxable income is calculated using the same definition of federal taxable income. Newfoundland and Labrador levies personal income tax directly on taxable income. Newfoundland and Labrador Statistics Agency (NLSA).

Treasury Management and Budgeting Branch.

Policy, Planning, Accountability and Information Management Division.

The Federal tax brackets and personal tax credit amounts are increased for 2022 by an indexation factor of 1.024 (a 2.4 increase). Please read the article Understanding the Tables of Personal Income Tax Rates.

Real Gross Domestic Product (GDP) Growth Forecast Canada - Federal 20 Tax Brackets and Marginal Tax Rates Income Tax Act s.

The Newfoundland and Labrador Child Benefit (NLCB) and Pre-natal Infant Nutrition Supplement (PINS).

NL Income Supplement and the NL SeniorsвЂ™ Benefit.

Credits, Benefits, Incentives and Rebates.

Transitional Rules for the Newfoundland and Labrador HST Rate Increase.

Temporary Elimination of Retail Sales Tax on Personal Property Insurance.

Frequently Asked QuestionsRetail Sales Tax on Insurance Premiums.

Labour-Sponsored Venture Capital Tax Credit.

Economic Diversification and Growth Enterprises Program.Newfoundland and Labrador Interactive Digital Media (IDM) Tax Credit.Manufacturing and Processing Investment Tax Credit.Health and Post Secondary Education Tax (Payroll Tax).Scientific Research and Experimental Development Tax Credit.Manufacturing and Processing Profits Tax Credit.

2021 federal tax brackets