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What's New in 2010 taxes

                                     What's New in 2010 Compared to 2009

2010 Federal tax rates and income thresholds
2010                                2009
$0-$40.970                  $ 0- $41,200                 15%
$40790-81,941          $41,200-$82,399              22%
$81,941-$127,021      $82,399-$126,264           26%
Over $127,021          Over$126,264                  29%


                                     Federal Personal Amounts              2010            2009
  • Basic personal amount                                            $10,382        $10,375
  • Child Amount                                                           $2,101         $ 2,089 
  • Age Amount                                                            $6,446           $6,658
  • Pension Income amount                                            $2,000          $2,000
  • Education and text amount / month(Full time)            $  465              $465
  • Education and text amount / month(Part time)            $ 140              $140
  • Disability Amount                                                      $7,239          $7,196
  • Spouse or comman in law partner amount                   $10,382       $10,375  
  • Amount for an eligible dependant                               $10,382       $10,375
  • Caregiver Amount                                                     $  4,223        $4,198
  • Amount for an infirm dependant age 18 or older          $  4,223        $4,198
Canada Pension Plan:
 Employer and Employee contributions have increased to $ 2,163.15.Maximum pensionable earnings are $47,200 with annual exemption of $ 3,500.Contribution rate is now 4.95%.

Employment Insurance:
Total employee maximum annual employment insurance premium is now $ 747.36 at a rate of 1.73% of $ maximum annual insurable earnings of $ 43,200.

In Quebec maximum employment insurance will be $ 587.52 , rate is 1.36% of maximum insurable earnings of $43,200.
Quebec Parental Insurance Plan will  now  have total employee's contribution of $ 316.25 at a rate of $ 0.506%of maximum insurable earnings of $ 62,500
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