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Newfoundland Income Tax Calculator 2023 & 2024.

This Page Was Last Updated: April 29, 2024
WOWA Trusted and Transparent
Estimate your 2022 & 2023 total income taxeswith only a few details about your income
Tax Year
Your Employment Status
Employment Income
Other Income
Capital Gains Before June 25
Capital Gains After June 24
RRSP Contributions
Additional Deductions
Eligible Dividends
Ineligible Dividends
Total Income
Adjusted Taxable Income

Total Tax
Federal Tax
Provincial Tax
EI Premiums
CPP Contribution
CPP2 Contribution

After Tax Income
Average Tax Rate
Marginal Tax Rate

These calculations include the following tax credits: basic personal amount, Canada employment amount, CPP/QPP, CPP2/QPP2, QPIP, EI premiums, and dividend tax credits. You may be eligible for other tax credits based on your province and income.

Canada Federal and Newfoundland Tax Brackets 2024
Your taxable income places you in the following tax brackets.
Federal tax bracketFederal tax rates
$55,867 or less 15%
$55,868 to $111,73320.5%
$111,734 to $173,20526%
$173,206 to $246,75229%
More than $246,753 33%
Newfoundland tax bracketNewfoundland tax rates
Up to $43,198 8.7%
$43,199 to $86,39514.5%
$86,396 to $154,24415.8%
$154,245 to $215,94317.8%
$215,944 to $275,87019.8%
$275,871 to $551,73920.8%
$551,740 to $1,103,47821.3%
More than $1,103,479 21.8%
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Newfoundland and Labrador Income Tax Brackets Changes

Newfoundland and Labrador's income tax brackets and credits are indexed annually using the province's Consumer Price Index (CPI). For 2024, the tax brackets, basic personal amount and other credits were increased by 4.2%.

Newfoundland Personal Amounts 2023 - 2024

Basic Personal Amount$10,382$10,818
Age Amount$6,627$6,905
Spouse/Common-Law Partner$8,483$8,840
Eligible Dependant$8,483$8,840

Source: Government of Newfoundland and Labrador

Similar to other provinces, Newfoundland's CPP contribution rate is 5.95%, CPP2 contribution rate is 4%, and EI premiums rate is 1.66%.

Newfoundland and Labrador Low-Income Tax Reduction

The low-income tax reduction (LITR) is a tax reduction designed to reduce the income tax owed by low-income families and individuals. For 2024, LITR eliminates the provincial income tax for individuals with a net income of up to $23,390 and families with a net income of up to $39,551.

Furthermore, individuals with a net income of up to $29,478 and families with a net income of up to $49,039 can receive a partial reduction.

NL Income Supplement and the NL Seniors’ Benefit

The NL income supplement and NL Seniors’ benefit are refundable tax credits, meaning eligible individuals and families can receive these credits even if they do not have to pay income tax. These benefits are paid out quarterly.

The NL income supplement is available to low-income individuals, families and seniors. For 2023, the maximum credit amount was $520, available to individuals and families with income between $20,000 and $40,000.

Meanwhile, eligible seniors can also receive the NL Seniors’ Benefit. For 2023, the maximum benefit amount was $1,516.

Other Credits in Newfoundland and Labrador

Other credits that can be claimed on your NL provincial tax return for 2024 include:

  • Caregiver Amount
  • Childcare Amount
  • Medical Expense Amount
  • Charitable Donations Credit
  • Disability Amount

You can find a list of all credits available in NL on the NL government website’s personal income tax page.