2023 Nunavut Income Tax Calculator
Plug in a few numbers and we’ll give you visibility into your tax bracket, marginal tax rate, average tax rate, and payroll tax deductions, along with an estimate of your tax refunds and taxes owed in 2023.
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Nunavut Provincial and Federal tax brackets
Your taxable income places you in the following tax brackets.
| Canadian federal tax bracket | Canadian federal tax rate |
|---|---|
| $53,359 or less | 15.00% |
| $53,359 - $106,717 | 20.50% |
| $106,717 - $165,430 | 26.00% |
| $165,430 - $235,675 | 29.00% |
| More than $235,675 | 33.00% |
| Nunavut tax bracket | Nunavut tax rate |
|---|---|
| first $50,877 | 4.0% |
| over $50,877 up to $101,754 | 7.0% |
| over $101,754 up to $165,429 | 9.0% |
| over $165,429 | 11.5% |
Step by step process in-depth list down below.
Determine taxable income by deducting any pre-tax contributions to benefits Your taxable income can be calculated by subtracting deductions (you are eligible to deduct) from your gross income. Your gross income is collectively the wages, profits, interest payments, rental income, and any other form of earning during the year. Once you have calculated your gross income by summing up all your earnings, you have to deduct amounts that you are allowed to deduct. Find out if you are eligible for Nunavut taxes deductions or federal tax deductions.
Withhold all applicable taxes (federal and provincial) The taxes withheld from paycheck depends on the Nunavut tax rates and your total taxable income. If you are employed, your employer is responsible for remitting a portion of your salary to the CRA. You might be illegible for a tax return if excess tax was deducted from your paycheck.
Deduct any post-tax contributions to benefits Post-tax deductions are deducted from your salary after the withholding of taxes. Some common post-tax deductions are wage garnishments, union dues, and voluntary payroll deductions (for job-related expenses, insurance plans, or retirement plans).
Garnish wages, if necessary If your employer is garnishing your wages, you must report this amount on your tax return. Garnished wages are a part of your taxable income, therefore, must be reported on your tax return.
The result is net income After paying taxes and post-tax deductions you arrive at the net income that you take home.
Explore other provincial or territorial tax calculators
FAQs
Nunavut Provincial tax is due on April 30th for employed individuals and on June 15 for self-employed individuals.
The tax in Nunavut is charged according to Nunavut income tax rates. For the first $50,877 of taxable income, the tax rate is 4%. Plus 7% on the next $50,877. Plus 9% on the next $63,675. Plus 11.5% on the amount above $165,429.
To calculate Nunavut taxes, you can use a Nunavut tax calculator or calculate taxes yourself using the Nunavut income tax rates provided on the CRA website.
The amount of tax deducted from a person’s paycheck depends on the total taxable income of the individual and the Nunavut tax rate that applies to the person’s income. For instance, if a person’s income falls in the lower tax brackets such as below $50,877 or below $101,754, the tax rate of 4% will be charged on the first $50,877 and 7% on the next $50,877. In the higher tax brackets, the interest rate increases as follows:
- 4% on the first $50,877 of taxable income.
- Plus 7% on the next $50,877.
- Plus 9% on the next $63,675.
- Plus 11.5% on the amount above $165,429.
The Nunavut government is taking steps to reduce greenhouse gas emissions by making the burning of fossil fuels more expensive. Half of the carbon tax in Nunavut is paid by the Department of Finance for the Nunavut Carbon Rebate, the other half is paid by the consumers in Nunavut who purchase the fuel.
The CRA advises tax payers to keep tax records for 6 years.
Getting a tax refund usually takes 2 weeks if you file tax returns online. But if you file tax returns by mail, tax refunds can take up to 8 weeks.
Annual net income and income taxes in Nunavut can be calculated using a Nunavut tax calculator. You can also get help from a tax expert to calculate your taxes and annual net income.
Capital gains tax rate in Nunavut (federal and provincial combined) is
- 9.50% on the first $50,877
- 11.00% on income over $50,877 but less than $53,359
- 13.75% on income over $53,359 but less than $101,754
- 14.75% on income over $101,754 but less than $106,717
- 17.50% on income over $106,717 but less than $165,429
- 20.41% on income over $165,429 but less than $235,675
- 22.25% on income over $235,675
The withholding tax in Nunavut is
- 4% on first $50,877 of taxable income
- 7% on the next $50,877
- 9% on the next $63,675
- 11.5% on the amount above $165,429
In Nunavut, your income tax rates are
- 4% on first $50,877 of taxable income
- 7% on the next $50,877
- 9% on the next $63,675
- 11.5% on the amount above $165,429
If you are selling your principal residence in Nunavut, you might be eligible for a federal residence tax exemption. If the house you are selling is not your principal residence, you’ll have to report the income from capital gains on the Schedule 3 of Capital Gains taxes.
The Nunavut government offers some territory-specific tax credits to the residents such as Cost of living tax credit, Cost of living supplement for single parents, and Education and textbook tax credits.
Income taxes can be paid online through the CRA’s ‘My Payment’ service. You can do Wealthsimple tax signup to calculate and pay your taxes online.
Tax on split income TOSI applies to the certain type of income of individuals born after the year 2003 or other individuals who earn related income. To calculate TOSI, use Form T1206.
RRSP deductions can reduce your taxable income and the overall tax liability. Use a Nunavut tax calculator to calculate your taxable income after the RRSP deductions.