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Income Tax Act

Version of section 117 from 2023-06-22 to 2024-03-20:


Marginal note:Tax payable under this Part

  •  (1) For the purposes of this Division, except section 120 (other than subparagraph (a)(ii) of the definition tax otherwise payable under this Part in subsection 120(4)), tax payable under this Part, tax otherwise payable under this Part and tax under this Part shall be computed as if this Part were read without reference to Division E.1.

  • Marginal note:Rates for taxation years after 2015

    (2) The tax payable under this Part by an individual on the individual’s taxable income or taxable income earned in Canada, as the case may be (in this Subdivision referred to as the “amount taxable”) for a taxation year is

    • (a) 15% of the amount taxable, if the amount taxable is equal to or less than the amount determined for the taxation year in respect of $45,282;

    • (b) if the amount taxable is greater than $45,282, but is equal to or less than $90,563, the maximum amount determinable in respect of the taxation year under paragraph (a), plus 20.5% of the amount by which the amount taxable exceeds $45,282 for the year;

    • (c) if the amount taxable is greater than $90,563, but is equal to or less than $140,388, the maximum amount determinable in respect of the taxation year under paragraph (b), plus 26% of the amount by which the amount taxable exceeds $90,563 for the year;

    • (d) if the amount taxable is greater than $140,388, but is equal to or less than $200,000, the maximum amount determinable in respect of the taxation year under paragraph (c), plus 29% of the amount by which the amount taxable exceeds $140,388 for the year; and

    • (e) if the amount taxable is greater than $200,000, the maximum amount determinable in respect of the taxation year under paragraph (d), plus 33% of the amount by which the amount taxable exceeds $200,000 for the year.

  • Marginal note:Adjustment to tax payable – advance payment

    (2.1) The tax payable under this Part on the individual’s taxable income for a taxation year, as computed under subsection (2), is deemed to be the total of the amount otherwise computed under that subsection and, except for the purposes of sections 118 to 118.9, 120.2, 121 and Subdivision C, the lesser of

    • (a) the total of all amounts deemed to have been paid on account of the individual’s tax payable under this Part for the taxation year under subsections 122.7(2) and (3), and

    • (b) the amount that

      • (i) if the individual is an eligible individual for the purposes of subsection 122.7(2), is the total of all amounts deemed to have been paid

        • (A) on account of the individual’s tax payable under this Part for the taxation year under subsection 122.72(1) or (3), and

        • (B) on account of tax payable under this Part for the taxation year under subsection 122.72(1) or (3), if subsection 122.72(1) were read without reference to subsection 122.7(3), of a person who is the individual’s cohabiting spouse or common-law partner (as defined in subsection 122.7(1)) at the end of the taxation year, and

      • (ii) in any other case, is the total of all amounts deemed to have been paid on account of the individual’s tax payable under this Part for the taxation year under subsection 122.72(1) or (3), if subsection 122.72(1) were read without reference to subsection 122.7(2).

  • Marginal note:Minimum thresholds for 2004

    (3) Each of the amounts of $30,754, $61,509 and $100,000 referred to in subsection (2) is deemed, for the purposes of applying subsection (2) to the 2004 taxation year, to be the greater of

    • (a) the amount that would be used for the 2004 taxation year if this section were read without reference to this subsection, and

    • (b) in the case of

      • (i) the amount of $30,754, $35,000,

      • (ii) the amount of $61,509, $70,000, and

      • (iii) the amount of $100,000, $113,804.

  • (6) [Repealed, 2000, c. 19, s. 22]

  • (7) [Repealed, 1994, c. 7, Sch. VII, s. 6]

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • R.S., 1985, c. 1 (5th Supp.), s. 117
  • 1994, c.7, Sch. VII, s. 6
  • 2000, c. 19, s. 22
  • 2001, c. 17, s. 92
  • 2006, c. 4, s. 58
  • 2007, c. 2, s. 18, c. 35, ss. 34, 179
  • 2009, c. 2, s. 33
  • 2016, c. 11, s. 1
  • 2023, c. 26, s. 26

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