Historical federal tax brackets — 2018 to 2025
Federal income tax brackets, basic personal amounts, RRSP limits, and TFSA room for each year. Use this to file prior year returns, calculate tax on past income, or understand how the rules have changed.
At a glance — RRSP and TFSA limits by year
| Year | RRSP limit | TFSA room | Basic personal amount | Lowest bracket top |
|---|---|---|---|---|
| 2026 | $32,490 | $7,000 | $16,129 | $57,375 |
| 2025 | $32,490 | $7,000 | $16,129 | $57,375 |
| 2024 | $31,560 | $7,000 | $15,705 | $55,867 |
| 2023 | $30,780 | $6,500 | $15,000 | $53,359 |
| 2022 | $29,210 | $6,000 | $14,398 | $50,197 |
| 2021 | $27,830 | $6,000 | $13,808 | $49,020 |
| 2020 | $27,230 | $6,000 | $13,229 | $48,535 |
| 2019 | $26,500 | $6,000 | $12,069 | $47,630 |
| 2018 | $26,230 | $5,500 | $11,809 | $46,605 |
Cumulative TFSA room since 2009 for someone who has been eligible every year: $102,000 as of 2026.
Federal brackets by year
Lowest bracket temporarily reduced to 14% (from 15%) on first $57,375.
| Rate | Taxable income up to |
|---|---|
| 14% | $57,375 |
| 20.5% | $114,750 |
| 26% | $158,519 |
| 29% | $220,000 |
| 33% | No limit |
Standard rates apply. TFSA room $7,000 (same as 2023).
| Rate | Taxable income up to |
|---|---|
| 15% | $55,867 |
| 20.5% | $111,733 |
| 26% | $154,906 |
| 29% | $220,000 |
| 33% | No limit |
RRSP limit increased to $30,780. TFSA room $6,500.
| Rate | Taxable income up to |
|---|---|
| 15% | $53,359 |
| 20.5% | $106,717 |
| 26% | $165,430 |
| 29% | $235,675 |
| 33% | No limit |
High inflation year — brackets increased 2.4%.
| Rate | Taxable income up to |
|---|---|
| 15% | $50,197 |
| 20.5% | $100,392 |
| 26% | $155,625 |
| 29% | $221,708 |
| 33% | No limit |
COVID recovery year. BPA reached $13,808 under phased increase plan.
| Rate | Taxable income up to |
|---|---|
| 15% | $49,020 |
| 20.5% | $98,040 |
| 26% | $151,978 |
| 29% | $216,511 |
| 33% | No limit |
BPA increase began: target $15,000 by 2023. TFSA $6,000 (same as prior years).
| Rate | Taxable income up to |
|---|---|
| 15% | $48,535 |
| 20.5% | $97,069 |
| 26% | $150,473 |
| 29% | $214,368 |
| 33% | No limit |
Standard parameters. TFSA increased to $6,000 from $5,500.
| Rate | Taxable income up to |
|---|---|
| 15% | $47,630 |
| 20.5% | $95,259 |
| 26% | $147,667 |
| 29% | $210,371 |
| 33% | No limit |
TFSA back to $5,500 after 2015 rollback from $10,000.
| Rate | Taxable income up to |
|---|---|
| 15% | $46,605 |
| 20.5% | $93,208 |
| 26% | $144,489 |
| 29% | $205,842 |
| 33% | No limit |
What changed over the years
The 33% top bracket (2016)
Before 2016, Canada had four federal brackets. The Liberal government added a fifth bracket at 33% on income above $200,000, while reducing the second bracket from 22% to 20.5%. The brackets above are post-2016 structure.
TFSA history
The TFSA launched in 2009 with $5,000 annual room. The Conservatives raised it to $10,000 in 2015. The Liberals rolled it back to $5,500 in 2016, then to $6,000 in 2019 (and again in 2020). It reached $6,500 in 2023 and $7,000 in 2024, indexed to CPI in $500 increments.
Basic Personal Amount increase
The 2019 federal budget committed to raising the BPA from $12,298 to $15,000 by 2023, in annual steps. This was phased in as planned — reaching $13,229 in 2020, $13,808 in 2021, $14,398 in 2022, and $15,000 in 2023. High earners get a reduced BPA (phases out above ~$150,000).
Temporary rate reduction in 2025
The 2024 fall economic statement proposed a one-year reduction of the lowest federal bracket from 15% to 14%, applying to income up to $57,375 for the 2025 tax year only. This meant a maximum federal tax saving of about $573 for someone at or above that threshold.
RRSP limits
RRSP limits are set at 18% of prior year earned income up to an annual dollar cap. That cap has risen with inflation: from $26,230 in 2018 to $32,490 in 2026.
Filing a prior year return
CRA accepts prior year returns going back 10 years. If you missed filing for 2020 or 2022, you can still file now — and still claim credits and benefits from those years. Late filers may owe interest and penalties if there was a balance owing, but there's no penalty for filing a return that generates a refund, no matter how late.
Use the CRA-certified NETFILE software for the applicable year, or paper forms available on canada.ca. You cannot use a 2026 software version to file a 2022 return — each year requires the specific forms for that year.
Bracket thresholds and limits are sourced from CRA T4032 payroll deductions tables and CRA indexation factor announcements. Quebec has separate provincial income tax administered by Revenu Québec.