2024 Tax Brackets Canada Over 65. Tax brackets outline the proportion of income tax that we need to pay based on annual earnings. Claim this amount if you were 65 years of age or older on december 31, 2023, and your net income (line 23600 of your return) is less than $98,309.
2024 federal tax bracket rates and income thresholds. Starting in 2024, a higher, second earnings ceiling of $73,200 will be implemented and used to determine second additional cpp contributions (cpp2).
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