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Tax Rates – 2004

For the 2004 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, 2003
  • various non-refundable tax credits are indexed
    (see the 2004 Non-Refundable Tax Credit Block)
  • the BC CPI used to calculate 2004 amounts was 2.6%


Personal Income Tax Brackets and Rates - 2004 Tax Year

Taxable Income

Tax Rate

$0 to $32,476

6.05%

$32,476.01 to $64,954

9.15%

$64,954.01 to $74,575

11.7%

$74,575.01 to $90,555

13.7%

Over $90,555

14.7%

Tax rates are applied on a cumulative basis. If your taxable income is more than $32,476 the first $32,476 of taxable income is taxed at 6.05%, the next $32,478 of taxable income is taxed at 9.15%, the next $9,621 is taxed at 11.7%, the next $15,980 of taxable income is taxed at 13.7% and any taxable income over $90,555 is taxed at 14.7%.

 

  
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