Indexation adjustment for personal income tax and benefit amounts

Each year, certain personal income tax and benefit amounts are indexed to inflation using the Consumer Price Index data as reported by Statistics Canada.  

Increases to tax bracket thresholds, amounts relating to non-refundable credits, and most other amounts below take effect on January 1 of the applicable year.

Increases in amounts for certain income-tested benefits like the goods and services tax credit, the Canada child benefit and Child disability benefit, take effect on July 1 to coincide with the beginning of the program year for payments of these benefits.

The following chart provides the indexed amounts for four tax years based on the announced personal income tax and benefit commitments to date.

Indexation increase per year
Description 2024 2023 2022 2021
Indexation increase 4.7% 6.3% 2.4% 1.0%
Tax bracket thresholds
Description 2024 2023 2022 2021
Taxable income above which the 20.5% bracket begins $55,867 $53,359 $50,197 $49,020
Taxable income above which the 26% bracket begins $111,733 $106,717 $100,392 $98,040
Taxable income above which the 29% bracket begins $173,205 $165,430 $155,625 $151,978
Taxable income above which the 33% bracket begins $246,752 $235,675 $221,708 $216,511
Amounts relating to non-refundable tax credits
Description 2024 2023 2022 2021
Basic personal amount for individuals whose net income for the year is greater than or equal to the amount at which the 33% tax bracket beginsFootnote 1  $14,156 $13,520 $12,719 $12,421
Basic personal amount for individuals whose net income for the year is less than or equal to the amount at which the 29% tax bracket beginsFootnote 1  $15,705 $15,000 $14,398 $13,808
Spouse or common-law partner amount (maximum) for individuals whose net income for the year is greater than the amount at which the 33% tax bracket beginsFootnote 1  $14,156 $13,520 $12,719 $12,421
Spouse or common-law partner amount (maximum) for individuals whose net income for the year is less than or equal to the amount at which the 29% tax bracket beginsFootnote 1  $15,705 $15,000 $14,398 $13,808
Spouse or common-law partner amount for individuals whose net income for the year is greater than or equal to the amount at which the 33% tax bracket begins (maximum if eligible for the Canada caregiver amount for a dependent spouse or common-law partner)Footnote 1  $16,772 $16,019 $15,069 $14,716
Spouse or common-law partner amount for individuals whose net income for the year is less than or equal to the amount at which the 29% tax bracket begins (maximum if eligible for the Canada caregiver amount for a dependent spouse or common-law partner)Footnote 1   $18,321 $17,499 $16,748 $16,103
Amount for an eligible dependant (maximum) for individuals whose net income for the year is greater than or equal to the amount at which the 33% tax bracket beginsFootnote 1  $14,156 $13,520 $12,719 $12,421
Amount for an eligible dependant (maximum) for individuals whose net income for the year is less than or equal to the amount at which the 29% tax bracket beginsFootnote 1  $15,705 $15,000 $14,398 $13,808
Amount for an eligible dependant  for individuals whose net income for the year is greater than or equal to the amount at which the 33% tax bracket begins (maximum if eligible for the Canada caregiver amount for a dependant)Footnote 1  $16,772 $16,019 $15,069 $14,716
Amount for an eligible dependant for individuals whose net income for the year is less than or equal to the amount at which the 29% tax bracket begins (maximum if eligible for the Canada caregiver amount for a dependant)Footnote 1  $18,321 $17,499 $16,748 $16,103
Canada caregiver amount for children under age 18 $2,616 $2,499 $2,350 $2,295
Age amount $8,790 $8,396 $7,898 $7,713
Net income threshold for age amount $44,325 $42,335 $39,826 $38,893
Canada employment amount (maximum) $1,433 $1,368 $1,287 $1,257
Canada caregiver amount for other infirm dependants age 18 or older (maximum amount) $8,375 $7,999 $7,525 $7,348
Net income threshold for Canada caregiver amount $19,666 $18,783 $17,670 $17,256
Disability amount $9,872 $9,428 $8,870 $8,662
Supplement for children with disabilities (maximum) $5,758 $5,500 $5,174 $5,053
Threshold relating to allowable child care and attendant care expenses $3,373 $3,221 $3,030 $2,959
Adoption expenses (maximum per adoption) $19,066 $18,210 $17,131 $16,729
Medical expense tax credit (3% of net income ceiling) $2,759 $2,635 $2,479 $2,421
Refundable medical expense supplement
Description 2024 2023 2022 2021
Maximum supplement $1,464 $1,399 $1,316 $1,285
Minimum earnings threshold $4,275 $4,083 $3,841 $3,751
Family net income threshold $32,419 $30,964 $29,129 $28,446
Old age security repayment
Description 2024 2023 2022 2021
Old age security repayment threshold $90,997 $86,912 $81,761 $79,845
Certain board and lodging allowances paid to players on sports teams or members of recreation programs
Description 2024 2023 2022 2021
Income exclusion (maximum per month) $430 $411 $386 $377
Tradesperson’s tools deduction
Description 2024 2023 2022 2021
Threshold amount relating to cost of eligible tools $1,433 $1,368 $1,287 $1,257
Advanced life deferred annuities (ALDA)Footnote 2
Description 2024 2023 2022 2021
Lifetime dollar limit $170,000 $160,000 $160,000 $150,000
Canada training credit (CTC)Footnote 3
Description 2024 2023 2022 2021
Minimum working income threshold $11,511 $10,994 $10,342 $10,100
Maximum net income $165,430 $155,625 $151,978 $150,473
Goods and services tax/harmonized sales tax credit
Description 2024 2023 2022 2021
Adult maximum $340 $325 $306 $299
Child maximum $179 $171 $161 $157
Single supplement $179 $171 $161 $157
Phase-in threshold for the single supplement $11,039 $10,544 $9,919 $9,686
Family net income at which credit begins to phase out $44,324 $42,335 $39,826 $38,892
Tax-free savings account
Description 2024 2023 2022 2021
Annual TFSA dollar limitFootnote 4 $7,000 $6,500 $6,000 $6,000
Lifetime capital gains exemption for qualified farm or fishing property and qualified small business corporation sharesFootnote 5
Description 2024 2023 2022 2021
Exemption limit $1,016,836 $971,190 $913,630 $892,218
Deduction limit (since ½ of the capital gain is taxable) $508,418 $485,595 $456,815 $446,109
Additional exemption amount for qualified farm or fishing property NA $28,810 $86,370 $107,782
Additional deduction amount for qualified farm or fishing property (since ½ of the capital gain is taxable) NA $14,405 $43,185 $53,891
Canada child benefit (CCB)Footnote 6
Description 2024 2023 2022 2021
CCB (base benefit, child under age 6) $7,787 $7,437 $6,997 $6,833
CCB (base benefit, child aged 6 to 17) $6,570 $6,275 $5,903 $5,765
Adjusted family net income at which phase out begins $36,502 $34,863 $32,797 $32,028
Second phase out threshold $79,087 $75,537 $71,060 $69,395
Base phase out amount for one eligible child $2,981 $2,847 $2,678 $2,616
Base phase out amount for two eligible children $5,749 $5,491 $5,166 $5,044
Base phase out amount for three eligible children $8,091 $7,728 $7,270 $7,100
Base phase out amount for four or more eligible children $9,795 $9,355 $8,801 $8,594
Child disability benefit (CDB)
Description 2024 2023 2022 2021
Maximum benefit $3,322 $3,173 $2,985 $2,915
Family net income threshold for phase out $79,087 $75,537 $71,060 $69,395
Children’s special allowance (CSA)
Description 2021-2024
CSA base amount Footnote 6
Federal Canada Workers Benefit (CWB)Footnote 7
Description 2024 2023 2022 2021
Minimum working income threshold $3,000 $3,000 $3,000 $3,000
Maximum benefit for single individuals with no children $1,590 $1,518 $1,428 $1,395
Maximum benefit for families $2,739 $2,616 $2,461 $2,403
Adjusted net income at which the benefit begins to phase out for single individuals with no children $26,149 $24,975 $23,495 $22,944
Adjusted family net income at which the benefit begins to phase out for families $29,833 $28,494 $26,805 $26,177
Secondary earner exemption $15,955 $15,239 $14,336 $14,000
CWB disability supplement
Description 2024 2023 2022 2021
Minimum working income threshold $1,150 $1,150 $1,150 $1,150
Maximum supplement $821 $784 $737 $720
Adjusted net income at which the supplement begins to phase out for single individuals with no children $36,748 $35,098 $33,018 $32,244
Adjusted family net income at which the supplement begins to phase out for families $48,091 $45,932 $43,210 $42,197

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