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Personal income tax brackets and rates - 2022 tax year Taxable Income - 2022 BracketsTax Rate$0 to $43,0705.06%$43,070.01 to $86,1417.70%$86,141.01 to $98,90110.50%$98,901.01 to $120,09412.29%3 more rows

As a Canadian resident, you are required to report the gross foreign dividend (before withholding tax) on your Canadian income tax return and pay tax at your marginal tax rate. Canadian tax rules allow you to claim a foreign tax credit for foreign withholding tax paid to alleviate double taxation.

Because the US and Canada have a tax treaty, foreign withholding taxes are exempt when you hold US dividend stocks in registered retirement accounts like RRSP and RRIF. The important thing to note is that this tax exemption does not apply to (when holding those same investments in either a) TFSA or RESP.

Since U.S. dividends are not paid from Canadian corporations, U.S. dividends do not qualify for the preferential Canadian dividend tax treatment. Foreign dividends, including U.S. dividends, are subject to tax at your marginal tax rate like interest income.

Since only 50% of capital gain is subject to taxation, the corporate tax rate on capital gains is equal to 50% of the Investment Income Tax Rate.

All money you receive as a result of an accommodation sharing arrangement is taxable for income tax purposes and you should report it as rental income when you file your income tax returns.

The dividend tax credit is a non-refundable tax credit which applies when Canadian dividends are included in income. Foreign dividends do not qualify for the dividend tax credit. Both dividend tax credits are claimed on Line 425 on Schedule 1 of the federal personal income tax return.