Important numbers – 2018 Personal Tax

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

CPP

2018 maximum pensionable earnings are $55,900. Maximum CPP contribution for employees is $2,593.8 and $5,187.60 for self-employed.

TFSA

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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