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Tax Rates – 2003

For the 2003 tax year:

  • tax brackets are indexed
  • indexing of credits and tax brackets is based on the Consumer Price Index for British Columbia (BC CPI) for the 12-month period ended on September 30, 2002
  • various non-refundable tax credits are indexed
    (see the 2003 Non-Refundable Tax Credit Block)
  • the BC CPI used to calculate 2003 amounts was 1.7%


Personal Income Tax Brackets and Rates - 2003 Tax Year

Taxable Income

Tax Rate

$0 to $31,653

6.05%

$31,653.01 to $63,308

9.15%

$63,308.01 to $72,685

11.7%

$72,685.01 to $88,260

13.7%

Over $88,260

14.7%

Tax rates are applied on a cumulative basis. If your taxable income is more than $31,653 the first $31,653 of taxable income is taxed at 6.05%, the next $31,655
of taxable income is taxed at 9.15%, the next $9,377 is taxed at 11.7%, the next $15,575 of taxable income is taxed at 13.7% and any taxable income over $88,260 is taxed at 14.7%.

 

  
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