Personal Income Tax

Newfoundland and Labrador levies personal income tax directly on taxable income. Taxable income is calculated using the same definition of federal taxable income. However, a separate set of tax brackets and tax rates are used to calculate provincial tax.

The following table details the personal income tax rates for the 2023 and 2024 taxation years.

2023 Tax Rates 2023 Taxable Income 2024 Tax Rates 2024 Taxable Income
8.7% 1st Tax Bracket
first $41,457
8.7% 1st Tax Bracket
first $43,198
14.5% 2nd Tax Bracket
over $41,457 up to $82,913
14.5% 2nd Tax Bracket
over $43,198 up to $86,395
15.8% 3rd Tax Bracket
over $82,913 up to $148,027
15.8% 3rd Tax Bracket
over $86,395 up to $154,244
17.8% 4th Tax Bracket
over $148,027 up to $207,239
17.8% 4th Tax Bracket
over $154,244 up to $215,943
19.8% 5th Tax Bracket
over $207,239 up to $264,750
19.8% 5th Tax Bracket
over $215,943 up to $275,870
20.8% 6th Tax Bracket
over $264,750 up to $529,500
20.8% 6th Tax Bracket
over $275,870 up to $551,739
21.3% 7th Tax Bracket
over $529,500 up to $1,059,000
21.3% 7th Tax Bracket
over $551,739 up to $1,103,478
21.8% 8th Tax Bracket
over $1,059,000
21.8% 8th Tax Bracket
over $1,103,478

Tax brackets, non-refundable tax credits (except education, pension income, volunteer firefighters’ and search and rescue amounts and most expenditure-based credits) and the Low Income Tax Reduction is indexed annually utilizing the Consumer Price Index for Newfoundland and Labrador.

The provincial non-refundable tax credits for the 2023 and 2024 taxation years are as follows:

Provincial Non-Refundable Credits* 2023 Amount 2024 Amount
Basic Personal Amount $10,382 $10.818
Age Amount $6,627 $6,905
Spouse or Common-Law Partner Amount $8,483 $8,840
Amount for an Eligible Dependant $8,483 $8,840
Amount for Infirm Dependants Age 18 or Older $3,297 $3,435
CPP/QPP Contributions Actual Expense Actual Expense
EI Premiums Actual Expense Actual Expense
Volunteer Firefighters’ Amount or Search and Rescue Amount $3,000 $3,000
Child Care Amount Actual Expense Actual Expense
Adoption Expenses $14,010 $14,599
Pension Income Amount $1,000 $1,000
Caregiver Amount $3,297 $3,435
Disability Amount (for self) $7,005 $7,299
Disability Supplement Amount $3,297 $3,435
Interest Paid on Student Loan Actual Expense Actual Expense
Tuition Amount Actual Expense Actual Expense
Education Amount
– full time (per month)
– part time (per month)
$200
$60
$200
$60
Medical Expense Amount Threshold $2,261 $2,356

* These values represent the maximum amount subject to other parameters.

2023 2024
Charitable Donations Credit
– First $200
– Over $200
8.7%
21.8%
8.7%
21.8%
Dividend Tax Credit
– Dividends from small business
– Dividends from large corporations
3.2%
6.3%
3.2%
6.3%

The Federal Government administers personal income tax on behalf of the Province. The Canada Revenue Agency can answer your personal income tax questions related to federal and provincial income taxation. You can contact them at 1-800-959-8281.