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Tax Rates – 2005

For the 2005 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, 2004
  • various non-refundable tax credits are indexed
    (see the 2005 Non-Refundable Tax Credit Block)
  • the BC CPI used to calculate 2005 amounts was 1.8%


Personal Income Tax Brackets and Rates - 2005 Tax Year

Taxable Income

Tax Rate

$0 to $33,061

6.05%

$33,061.01 to $66,123

9.15%

$66,123.01 to $75,917

11.7%

$75,917.01 to $92,185

13.7%

Over $92,185

14.7%

Tax rates are applied on a cumulative basis. If your taxable income is more than $33,061 the first $33,061 of taxable income is taxed at 6.05%, the next $33,062
of taxable income is taxed at 9.15%, the next $9,794 is taxed at 11.7%, the next $16,268 of taxable income is taxed at 13.7% and any taxable income over $92,185 is taxed at 14.7% .

 

  
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