Ontario 2024 Tax Forms For Individuals. 16 rows ontario 2025 and 2024 tax rates & tax brackets the ontario tax brackets and personal tax credit amounts are increased for 2025 by an indexation factor of 1.028 (2.8%. There are 5 ontario income tax brackets and 5 corresponding tax.
To account for inflation, ontario’s tax brackets and personal tax credit amounts are adjusted annually based on indexation factors, like the 4.5% increase applied in 2024. Personal income tax is collected annually from ontario residents and those who earned income in the province.