2015 indexation adjustment for personal income tax, benefit amounts, and the annual dollar limit for Tax-Free Savings Accounts (TFSAs)
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This fact sheet has been updated. It now includes the lifetime capital gains exemption limit.
Each year, certain personal income tax and benefit amounts are indexed to inflation using the Consumer Price Index data as reported by Statistics Canada.
Increases to tax bracket thresholds, amounts relating to non‑refundable credits, and most other amounts will take effect on January 1, 2015. However, increases to the Canada child tax benefit (including the national child benefit supplement and the child disability benefit) and the goods and services tax credit will take effect on July 1, 2015, to coincide with the beginning of the program year for payment of these benefits.
|Tax bracket thresholds|
|Taxable income above which the 22% bracket begins||44,701||43,953|
|Taxable income above which the 26% bracket begins||89,401||87,907|
|Taxable income above which the 29% bracket begins||138,586||136,270|
|Amounts relating to non-refundable tax credits|
|Basic personal amount||11,327||11,138|
|Net income threshold||35,466||34,873|
|Spouse or common-law partner amount (maximum)||11,327||11,138|
|Spouse or common-law partner amount (maximum if eligible for the family caregiver amount)||13,420||13,196|
|Amount for an eligible dependant (maximum)||11,327||11,138|
|Amount for an eligible dependant (maximum if dependant eligible for the family caregiver amount)||13,420||13,196|
|Amount for children under age 18 (maximum per child)||Not applicable
|Amount for children under age 18 (maximum per child eligible for the family caregiver amount)||Not applicable
|Family caregiver amount for children under age 18||2,093||Not applicable
|Canada employment amount (maximum)||1,146||1,127|
|Infirm dependant amount (maximum per dependant)||6,700||6,589|
|Net income threshold||6,720||6,607|
|Caregiver amount (maximum per dependant)||4,608||4,530|
|Caregiver amount (maximum per dependant eligible for the family caregiver amount)||6,701||6,588|
|Net income threshold||15,735||15,472|
|Supplement for children with disabilities (maximum)||4,607||4,530|
|Threshold relating to allowable child care and attendant care expenses||2,699||2,654|
|Adoption expenses (maximum per adoption)||15,255||15,000 Footnote 2|
|Medical expense tax credit—3% of net income ceiling||2,208||2,171|
|Refundable medical expense supplement|
|Minimum earnings threshold||3,421||3,363|
|Family net income threshold||25,939||25,506|
|Old age security repayment threshold||72,809||71,592|
|Certain board and lodging allowances paid to players
on sports teams or members of recreation programs
|Income exclusion (maximum per month)||344||338|
|Tradesperson’s tools deduction|
|Threshold amount relating to cost of eligible tools||1,146||1,127|
|Goods and services tax/harmonized sales tax credit|
|Phase-in threshold for the single supplement||8,833||8,685|
|Family net income at which credit begins to phase out||35,465||34,872|
|Canada child tax benefit|
|Additional benefit for third child||103||101|
|Family net income at which base benefit begins to phase out||44,701||43,953|
|National child benefit (NCB) supplement|
|Family net income at which NCB supplement begins to phase out||26,021||25,584|
|Family net income at which NCB supplement phase-out is complete||44,701||43,953|
|Child disability benefit (CDB)|
|Family net income at which CDB supplement begins to phase out||44,701||43,953|
|Children’s special allowances (CSA)|
|CSA Base Amount||3,750||3,687|
|Tax-Free Savings Account (the indexed amount has been rounded to the nearest $500)|
|Annual TFSA dollar limit||5,500||5,500|
|Lifetime capital gains exemption for qualified farm property, fishing property and small business corporation shares|
|Exemption limit||813,600||800,000 Footnote 3|
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