Important numbers - 2018 Personal Tax
Please find below important numbers and tax rates for 2018 taxation year.
RRSP contribution limit
2018 - maximum contribution $26,230
2018 maximum pensionable earnings are $55,900. Maximum CPP contribution for employees is $2,593.8 and $5,187.60 for self-employed.
Maximum TFSA contribution in 2018 is $5,500
Old Age Security
Maximum OAS pension is $7,160. Clawback starts at net income of $75,910 at the rate of 15%.
Top marginal tax rates in Ontario
Ordinary income - 53.53%
Eligible dividends - 39.34%
Non-eligible dividends - 46.84%
Capital gain - 26.76%
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