Download a PDF of our Tax Facts for Ontario Residents.
| MARGINAL TAX RATE | |||
| 2025 Taxable Income | Salary | Public Company Dividends(1)(2) 38% Gross up |
Private Company Dividends(2) 15% Gross up |
| $1 – $16,129 | 0.00% | 0.00% | 0.00% |
| $16,130 – $52,886 | 20.05% | 0.00% | 9.24% |
| $52,887 – $57,375 | 24.15% | 0.00% | 13.95% |
| $57,376 – $93,132 | 29.65% | 6.39% | 20.28% |
| $93,133 – $105,775 | 31.48% | 8.92% | 22.38% |
| $105,776 – $109,727 | 33.89% | 12.24% | 25.16% |
| $109,728 – $114,750 | 37.91% | 17.79% | 29.78% |
| $114,751 – $150,000 | 43.41% | 25.38% | 36.10% |
| $150,001 – $173,882 | 44.97% | 27.53% | 37.90% |
| $177,883 – $220,00 | 48.29% | 32.11% | 41.72% |
| $220,001 – $253,415 | 49.85% | 34.26% | 43.51% |
| Greater than $253,415 | 53.53% | 39.34% | 47.74% |
(1) Includes dividends from CCPCs from income in excess of $500,000 business limit
(2) Marginal rates are based on cash dividends received, not grossed-up taxable amount
| CCPC Active Income | 2025 | 2024 |
| <$500,000 | 12.20% | 12.20% |
| >$500,001 | 26.50% | 26.50% |
| CCPC Investment Income | ||
| Interest(3) | 50.17% | 50.17% |
| Refundable Tax | 30.67% | 30.67% |
| Capital Gains(3) | 25.8% | 25.08% |
| Refundable Tax | 15.34% | 15.34% |
(3) A portion of these taxes are refundable on payment of taxable dividends at different rates, depending on certain facts. Speak to your GGFL advisor for more details.
| 2025 | 2024 | |
| OAS Benefit (ages 65 to 74) | $8,732 | $8,618 |
| Clawback for income greater than: | $93,454 | $90,997 |
| No benefit for income greater than: | $151,668 | $148,451 |
| OAS Benefit (ages 75 and over) | $9,605 | $9,480 |
| Clawback for income greater than: | $93,454 | $90,997 |
| No benefit for income greater than: | $157,489 | $154,196 |
| Lifetime Contribution | Annual Limit | |||
| $102,000 | 2025 – $7,000 | 2024 – $7,000 | ||
| 2025 | 2024 | |
| RRSP Deduction Limit | $32,490 | $31,560 |
| Income Required to Maximize RRSP | $180,500 | $175,333 |
| Deadline: 60-days after year end | Mar 2, 2026 | Mar 3, 2025 |
| 2025 | 2024 | |
| CPP Limit | $4,034.10 | $3,867.50 |
| Maximum Pensionable Earnings | $71,300 | $68,500 |
| CPP2 Limit | $396 | $188 |
| Maximum Pensionable Earnings | $81,200 | $73,200 |
| Employee | Employer | Maximum Insurable Earnings | |
| 2025 | $1,077.48 | $1,508.47 | $65,700 |
| 2024 | $1,049.12 | $1,468.77 | $63,200 |
| 2025 | 2024 | |
| Payroll <$5 Million | $1,000,000 | $1,000,000 |
| 2025 | 2024 | |
| Q1 | 4% | 6% |
| Q2 | 4% | 6% |
| Q3 | 3% | 5% |
| Q4 | TBD | 5% |
(4) These rates are for shareholder loans; for refunds add 2%;
for overdue balances add 4%
| 2025 | 2024 | |
| Lifetime Exemption (before June 25, 2024) | N/A | $1,016,836 |
| Lifetime Exemption (on or after June 25, 2024) ** PROPOSED |
$1,250,000 | $1,250,000 |
| 2025 | 2024 | |
| Lifetime Exemption (before June 25, 2024) | N/A | $1,016,836 |
| Lifetime Exemption (on or after June 25, 2024) ** PROPOSED |
$1,250,000 | $1,250,000 |
| Claim Description | 2025 | 2024 |
Tax-exempt car reimbursements:
|
$0.72/km $0.66/km |
$0.70/km $0.64/km |
| CCA threshold – Class 10.1 | $38,000 | $37,000 |
| CCA threshold – Class 54 zero-emission | $61,000 | $61,000 |
| Interest expense limit | $350/month | $350/month |
| Leasing limit per month | $1,100+txs | $1,050+txs |
| Operating cost benefit (standby charge) | $0.34/km | $0.33/km |
| Due Date(6) | |
| Corporate Tax Returns (T2) | 6 months after year end |
Corporate final tax payment for the current fiscal year:
|
3 months after year end 2 months after year end |
Corporate Instalment Due Dates
|
Last day of the month March 31, June 30, September 30, December 31
|
| T4 Return-Summary of Renumeration Paid | Last day in February |
| T5 Return-Return of Investment Income (interest+dividends) | Last day in February |
| Trust Returns (T3) | 90 days after year end |
Personal Tax Returns (T1)
|
April 30 June 15 April 30 |
| Instalment Due Dates: Personal Tax and Trust & Estates | Q1(March 15); Q2(June 15);
Q3 (September 15); Q4(December 15) |
| HST Return – Annual Filer
HST Return – Quarterly Filer |
3 months after year end
1 month after end of quarter |
| HST Instalments Due Dates: Annual Filer December year end | Q1 (April 30) ; Q2 (July 31) ; Q3 (October 31); Q4 (January 31 of the following year) |
| EHT Instalments (Payroll > $1.2M, tax years starting in 2021) | Monthly |
| EHT Return | March 15 of the following year |
(6) If a Due Date falls on a Saturday, Sunday or public holiday, the due date will be the next business day.
| 65 or Older | Under 65 | |
| Pension Annuity Payments | Yes | Yes |
| RRIF Payments | Yes | No (5) |
| RRSP Annuity Payments | Yes | No (5) |
| RRSP Lump-Sum Withdrawals | No | No |
| Canada Pension Plan Benefits | No | No |
| Old Age Security Benefits | No | No |
(5) Except if received due to the death of a spouse
The information provided in this publication is intended for general purposes only. Care has been taken care to ensure the information herein is accurate; however, no representation is made as to the accuracy thereof. The information should not be relied upon to replace specific professional advice. Last updated January, 2025.
