Income Tax Brackets 2024 Canada Over 65. The old age security (oas) repayment using 2024 income takes effect for payments from july 2025 to june 2026 and is for net world income from $90,997 to $148,065 for individuals aged 65 to 74. For 2024, the canada revenue agency (cra) has updated the income brackets to reflect inflation adjustments.
Claim this amount if you were 65 years of age or older on december 31, 2023, and your net income (line 23600 of your return) is less. The ontario tax brackets and personal tax credit amounts are increased for 2024 by an indexation factor of 1.045 (4.5%.
Income Tax Brackets 2024 Canada Over 65 Images References :