Canada's key money numbers for 2026
Checked against official sources on . Each section links to the government page it comes from.
Quick Answer
For 2026: the lowest federal tax rate is 14% on the first $58,523, the TFSA limit is $7,000 ($109,000 cumulative), the RRSP limit is $33,810, CPP applies to earnings up to $74,600 (CPP2 to $85,000), EI premiums apply to the first $68,900, the maximum EI benefit is $729 a week, and the maximum CPP retirement pension at 65 is $1,507.65 a month.
What are the 2026 federal tax brackets?
Five brackets, from 14% to 33%. Only the income inside each bracket is taxed at that rate. The basic personal amount is $16,452, reduced gradually to $14,829 for incomes in the top two brackets.
| Taxable income | Federal rate |
|---|---|
| Up to $58,523 | 14% |
| $58,523 to $117,045 | 20.5% |
| $117,045 to $181,440 | 26% |
| $181,440 to $258,482 | 29% |
| Over $258,482 | 33% |
Source: Tax rates and income brackets for the current year (Canada Revenue Agency). Model your salary in the income tax calculator.
Provincial and territorial tax rates for 2026
Provincial tax stacks on top of federal tax. Lowest and top rates, where the top rate starts, and each basic personal amount:
| Province/territory | Lowest rate | Top rate | Top rate from | Basic personal amount |
|---|---|---|---|---|
| Alberta | 8% | 15% | $370,220 | $22,769 |
| British Columbia | 5.6% | 20.5% | $265,545 | $13,216 |
| Manitoba | 10.8% | 17.4% | $100,000 | $15,780 |
| New Brunswick | 9.4% | 19.5% | $193,861 | $13,664 |
| Newfoundland and Labrador | 8.7% | 21.8% | $1,141,275 | $13,094 |
| Northwest Territories | 5.9% | 14.05% | $172,346 | $18,198 |
| Nova Scotia | 8.79% | 21% | $157,124 | $11,932 |
| Nunavut | 4% | 11.5% | $181,439 | $19,659 |
| Ontario | 5.05% | 13.16% | $220,000 | $12,989 |
| Prince Edward Island | 9.5% | 20% | $200,000 | $15,000 |
| Quebec | 14% | 25.75% | $132,245 | $18,952 |
| Saskatchewan | 10.5% | 14.5% | $155,805 | $20,381 |
| Yukon | 6.4% | 15% | $500,000 | $16,452 |
Quebec income tax is administered by Revenu Québec. Manitoba's brackets and basic personal amount are frozen at 2024 levels; Yukon's basic personal amount follows the federal one. Source: Canada Revenue Agency.
CPP and QPP contributions and pension for 2026
- Base CPP: 5.95% of earnings between $3,500 and $74,600. Maximum employee contribution $4,230.45.
- CPP2: 4% of earnings from $74,600 to $85,000. Maximum $416.00.
- QPP (Quebec): 6.3% base rate on the same earnings band, maximum $4,479.30, plus QPP2 at 4%.
- Maximum CPP retirement pension at 65: $1,507.65 a month. The average for new beneficiaries at 65 (April 2026) is $877.01. CPP disability benefit: up to $1,741.20 a month in 2026 (average for new beneficiaries $1,234.68).
Sources: Canada Pension Plan: monthly payment amounts (ESDC); Québec Pension Plan (Retraite Québec).
EI premiums and benefits for 2026
- Maximum insurable earnings: $68,900.
- Employee premium: 1.63% (maximum $1,123.07); in Quebec 1.3% (maximum $895.70).
- Maximum weekly benefit: $729 (55% of insurable earnings), for regular, maternity and standard parental benefits. Extended parental benefits pay up to $437 a week (33%).
Sources: EI premium rates and maximums (CRA); EI regular benefits: how much you could receive and maternity and parental benefits (ESDC).
TFSA, RRSP, FHSA and RESP limits for 2026
- TFSA: $7,000 for 2026. Total room for someone who was 18 or older in 2009 and has never contributed: $109,000. Withdrawals are added back the following January 1. TFSA calculator
- RRSP: 18% of last year's earned income, up to $33,810, minus any pension adjustment. RRSP vs TFSA calculator
- FHSA: $8,000 a year, $40,000 lifetime. FHSA calculator
- Home Buyers' Plan: withdraw up to $60,000 from your RRSP, repaid over 15 years. For a first withdrawal made from 2026 to 2028, repayments start in the fifth year after the withdrawal.
- RESP grant (CESG): 20% of contributions, up to $500 a year ($1,000 with unused room), $7,200 lifetime per child.
Sources: Calculate your TFSA contribution room; RRSPs and related plans; First Home Savings Account (FHSA); The Home Buyers' Plan; Canada Education Savings Grant (CESG) (CRA).
Canada child benefit and OAS clawback
- Canada child benefit (July 2026 to June 2027): up to $8,157 per child under 6 and $6,883 per child aged 6 to 17. Payments start shrinking when adjusted family net income passes $38,237.
- OAS clawback: 15% of net income above $95,323 for 2026 income ($93,454 for 2025); the threshold is indexed each year. OAS clawback guide
Sources: Canada child benefit: how much you can get (CRA); OAS pension recovery tax (clawback) (ESDC).
Mortgage rules for 2026
- Bank of Canada policy rate: the current rate and prime, updated from the Bank's own data. Bank of Canada rate today
- Stress test: you must qualify at the higher of your contract rate plus 2% or 5.25%. Stress test calculator
- Minimum down payment: 5% of the first $500,000, 10% of the portion from $500,000 to $1,499,999, and 20% on homes of $1.5 million or more (the insured-mortgage price cap). Down payment calculator
- CMHC insurance premiums: 4.00% of the loan with 5% to 9.99% down, 3.10% with 10% to 14.99%, 2.80% with 15% to 19.99%. Insured buyers eligible for a 30-year amortization (first-time buyers and new-build purchases) pay an extra 0.20%.
- GST on new homes: first-time buyers can get back all of the GST (or federal part of the HST) on a new home up to $1 million, and part of it up to $1.5 million.
Sources: Minimum qualifying rate for uninsured mortgages (OSFI); Mortgage loan insurance cost (CMHC); First-time home buyers' GST/HST rebate (CRA).
Deposit insurance and borrowing cost limits
- CDIC deposit insurance: up to $100,000 per insured category (for example savings, joint accounts, TFSAs, RRSPs) at each member institution, including GICs.
- Payday loans: the cost is capped at $14 per $100 borrowed, about 365% as an annual rate. What a payday loan really costs
- Minimum wage: set by each province and territory, from $15.00 in Alberta to $20.17 in Nunavut, with federally regulated workplaces at $18.15. Minimum wage by province
- Criminal interest rate: most other consumer loans are capped at 35% APR, down from an effective annual rate of 60% (about 47% APR) since January 1, 2025.
Sources: What's covered by deposit insurance (CDIC); Payday loans (FCAC).
What changed from 2025
- Lowest federal tax rate: 15% → 14% (the cut took effect July 1, 2025; 2026 is the first full year)
- Federal brackets and the basic personal amount indexed by 2.0%
- British Columbia's lowest rate: 5.06% → 5.6%
- CPP maximum pensionable earnings: $71,300 → $74,600; CPP2 ceiling: $81,200 → $85,000
- QPP base rate: 6.40% → 6.3%
- EI maximum insurable earnings: $65,700 → $68,900; employee rate 1.64% → 1.63%
- EI maximum weekly benefit: $695 → $729
- RRSP dollar limit: $32,490 → $33,810
- Cumulative TFSA room (18+ since 2009): $102,000 → $109,000
- Newfoundland and Labrador's basic personal amount rises to $15,000 (prorated to $13,094 for 2026)
Using these numbers
These are the published limits and rates; your own room and benefits depend on your history, so check your CRA My Account and My Service Canada Account for personal figures. You're welcome to cite this page. For calculations, the LoanLens calculators use the same 2026 figures.