Ontario Personal Income Tax 2012

Tax Rates and Credits

For an explanation of these rates and credits, please refer to the federal and provincial personal income tax return for the applicable year. To obtain a copy of the return you may contact the Canada Revenue Agency (CRA) at 1 800 959-2221 or visit the CRA website.

Taxable Income Brackets
2010 2011 2012
1st income bracket Up to $37,106 Up to $37,774 Up to $39,020
2nd income bracket Greater than $37,106
up to $74,214
Greater than $37,774
up to $75,550
Greater than $39,020
up to $78,043
3rd income bracket Greater than $74,214 Greater than $75,550 Greater than $78,043
Tax Rates
2010 2011 2012
1st income bracket 5.05% 5.05% 5.05%
2nd income bracket 9.15% 9.15% 9.15%
3rd income bracket 11.16% 11.16% 11.16%
Amounts Relating to Non-Refundable Tax Credits
2010 2011 2012
Basic Personal Amount $8,943 $9,104 $9,405
Spouse or Common-law Partner Amount, maximum $7,594 $7,730 $7,986
Amount for eligible dependant, maximum $7,594 $7,730 $7,986
Caregiver Amount, maximum $4,216 $4,291 $4,433
Dependant’s net income threshold $18,637 $18,972 $19,598
Amount for Infirm Dependant, maximum $4,215 $4,292 $4,433
Dependant’s net income threshold $10,207 $10,391 $10,734
Age Amount, maximum $4,366 $4,445 $4,592
Pension Income Amount, maximum $1,237 $1,259 $1,300
Adoption Expenses, maximum $10,911 $11,107 $11,474
Disability Amount $7,225 $7,355 $7,598
Disability Supplement, maximum $4,214 $4,290 $4,432
Full-time Education Amount (per month) $481 $490 $506
Part-time Education Amount (per month) $144 $147 $151
Transfer limit – tuition/education amounts $6,184 $6,295 $6,503
Medical expense claimed must exceed Lesser of $2,024 and 3% of net income Lesser of $2,061 and 3% of net income Lesser of $2,128 and 3% of net income
Medical expense of dependant, maximum $10,911 $11,107 $11,474
Two-tier Surtax
2010 2011 2012
(Per cent of basic Ontario tax)
1st tier basic tax range
(rate %)
Greater than $4,006
up to $5,127
(20%)
Greater than $4,078
up to $5,219
(20%)
Greater than $4,213
up to $5,392
(20%)
2nd tier basic tax range
(rate %)
Greater than $5,127
(56%)
Greater than $5,219
(56%)
Greater than $5,392
(56%)
Ontario Tax Reduction
2010 2011 2012
Basic reduction $206 $210 $217
Reduction for each child or disabled/infirm dependant $382 $389 $401
Political Contribution Tax Credit
2010 2011 2012
1st contribution level Up to $372 Up to $372 Up to $372
2nd contribution level Greater than $372
up to $1,240
Greater than $372
up to $1,240
Greater than $372
up to $1, 240
3rd contribution level Greater than $1,240 Greater than $1,240 Greater than $1,240
Dividend Tax Credit
2010 2011 2012
Eligible dividends 6.40% 6.40% 6.40%
Other dividends from taxable Canadian corporations 4.50% 4.50% 4.50%
Alternative Minimum Tax
2010 2011 2012
Alternative Minimum Tax 33.67% 33.67% 33.67%
Ontario Energy & Property Tax Credit
2010 2011 2012
Amount of tax credit, non-senior
Maximum amount $900 $917 $946
Benefit reduction threshold if single and have no children, 2% reduction over $20,000 $20,360 $21,032
Benefit reduction threshold for families (including single parents), 2% reduction over $25,000 $25,450 $26,290
Amount of tax credit, senior
Maximum amount $1,025 $1,044 $1,078
Benefit reduction threshold if single and have no children, 2% reduction over $25,000 $25,450 $26,290
Benefit reduction threshold for families (including single parents), 2% reduction over $30,000 $30,540 $31,548
Children’s Activity Tax Credit
2010 2011 2012
Maximum eligible expenses $500 $509 $526
Maximum credit for a child without a disability $50 $50.90 $52.60
Maxium credit for a child with a disability $100 $101.80 $105.20
Ontario Sales Tax Credit
2010 2011 2012
Maximum amount per individual $260 $265 $273
Benefit reduction threshold if single and have no children, 4% reduction over $20,000 $20,360 $21,032
Benefit reduction threshold for families (including single parents), 4% reduction over $25,000 $25,450 $26,290
Northern Ontario Energy Credit
2010 2011 2012
Maximum amount if single and have no children $130 $132 $137
Benefit reducion threshold if single and have no children, 1% reduction over $35,000 $35,630 $36,806
Maximum amount for families (including single parents) $200 $204 $210
Benefit reduction threshold for families (including single parents), 1% reduction over $45,000 $45,810 $47,322
Ontario Child Benefit
2010 2011 2012
Maximum per child under age 18 $1,100 $1,100 $1,100
Benefit reduction threshold, 8% reduction over
$20,000
$20,000
$20,000
Ontario Senior Homeowners’ Property Tax Grant
2010 2011 2012
Maximum per senior or senior couple $500 $500 $500
Benefit reduction threshold for single seniors,
3.33% reduction over
$35,000 $35,000 $35,000
Benefit reduction threshold for senior couples,
3.33% reduction over
$45,000 $45,000 $45,000
Source and for more information:  http://www.rev.gov.on.ca/en/tax/pit/rates.html
Property of Marino Vereecke Professional Corporation, CA