Tax Rates in Canada (2026): Income Tax, Corporate Tax & VAT
Headline tax rates that matter when you buy, rent out or hold property through a company in Canada, with their history and a comparison with Americas.
- Top personal income tax rate
- 33.0%
- 2024
- Corporate income tax rate
- 26.5%
- 2024
- VAT / sales tax (standard rate)
- 5.0%
- 2024
Tax rate history in Canada
Current headline rates
| Indicator | Value | Year | Change | Source |
|---|---|---|---|---|
| Top personal income tax rateHighest statutory marginal rate on personal income | 33.0% | 2024 | ±0.0 pp vs 2023 | Trading Economics |
| Corporate income tax rateHeadline statutory corporate income tax rate | 26.5% | 2024 | ±0.0 pp vs 2023 | Trading Economics |
| VAT / sales tax (standard rate)Standard value-added or sales tax rate | 5.0% | 2024 | ±0.0 pp vs 2023 | Trading Economics |
| Year | Top personal income tax rate | Corporate income tax rate | VAT / sales tax (standard rate) |
|---|---|---|---|
| 2024 | 33.0% | 26.5% | 5.0% |
| 2023 | 33.0% | 26.5% | 5.0% |
| 2022 | 33.0% | 26.5% | 5.0% |
| 2021 | 33.0% | 26.5% | 5.0% |
| 2020 | 33.0% | 26.5% | 5.0% |
| 2019 | 33.0% | 26.5% | 5.0% |
| 2018 | 33.0% | 26.5% | 5.0% |
| 2017 | 33.0% | 26.5% | 5.0% |
| 2016 | 33.0% | 26.5% | 5.0% |
| 2015 | 29.0% | 26.5% | 5.0% |
Property-specific taxes (transfer tax or stamp duty, annual property tax, capital gains on sale and withholding on rent paid to non-residents) vary by region and buyer status and are not included in these headline figures — see the Canada buying guide.
Canada vs Americas: tax comparison
| Country | Top personal income tax rate | Corporate income tax rate | VAT / sales tax (standard rate) |
|---|---|---|---|
| Canada | 33.0% | 26.5% | 5.0% |
| United States | 37.0% | 21.0% | — |
| Argentina | 35.0% | 35.0% | 21.0% |
| Bolivia | 13.0% | 25.0% | 13.0% |
| Brazil | 27.5% | 34.0% | 17.0% |
| Chile | 40.0% | 27.0% | 19.0% |
| Colombia | 39.0% | 35.0% | 19.0% |
| Costa Rica | 25.0% | 30.0% | 13.0% |
| Dominican Republic | 25.0% | 27.0% | 18.0% |
| Ecuador | 37.0% | 22.0% | 15.0% |
| Mexico | 35.0% | 30.0% | 16.0% |
| Panama | 25.0% | 25.0% | 7.0% |
Related
Earlier years: Trading Economics. Rates are statutory headline rates; surcharges, regional taxes and special regimes may apply.