Newfoundland Income Tax Calculator 2022 & 2023.

This Page Was Last Updated: January 18, 2023
Newfoundland-image
Newfoundland
Estimate your 2022 & 2023 total income taxeswith only a few details about your income
Inputs
Tax Year
Your Employment Status
Employment Income
Other Income
Capital Gains
RRSP Contributions
Additional Deductions
Eligible Dividends
Ineligible Dividends
Results
Total Taxable Income
$50,000
Total Deductions
$0
Total Income
$50,000

Total Tax
$12,773.77
Income Tax
$9,192.02
EI Premiums
$815
CPP Contribution
$2,766.75

After Tax Income
$37,226.23
Average Tax Rate
18.38%
Marginal Tax Rate
29.5%

Canada Federal and Newfoundland Tax Brackets 2023
Your taxable income places you in the following tax brackets.
Federal tax bracketFederal tax rates
Less than $15,000 0%
$15,001 to $53,35915%
$53,360 to $106,71720.5%
$106,718 to $165,43026%
$165,431 to $235,67629%
More than $235,676 33%
Newfoundland tax bracketNewfoundland tax rates
Less than $10,382 0%
$10,383 to $41,4578.7%
$41,458 to $82,91314.5%
$82,914 to $148,02715.8%
$148,028 to $207,23917.8%
$207,240 to $264,75019.8%
$264,751 to $529,50020.8%
$529,501 to $1,059,00021.3%
More than $1,059,001 21.8%

Newfoundland and Labrador Income Tax Brackets Changes

Income tax brackets in Newfoundland and Labrador will be increasing by 0.4% in 2021. The basic personal amount will also increase by 0.4%.

Similar to other provinces, Newfoundland's CPP contribution rate is 5.45%, and EI premiums are 1.58%.

Newfoundland Personal Amounts 2021

20202021
Basic Personal Amount$9,498$9,536
Spouse/Common-Law Partner$8,572$8,572
Eligible Dependant$8,572$8,572

Newfoundland and Labrador Low-Income Tax Reduction

The low income tax reduction provides a non-refundable tax credit depending on your income. The amount of the low-income tax reduction is:

  • $859 plus $479 for eligible spouse/common-law partner plus $479 for an eligible dependent, up to a maximum reduction of $1,338.
  • Reduced from this reduction is your net family income minus $20,537 if single or $34,727 if in a household, multiplied by the applicable rate of 16%.
  • If the result of the reduced reduction is greater than zero, then subtract your family income by this reduction.

The result of this is the tax credit you will receive for the low-income tax reduction.