From 3268a0edfefd778cb9bef9cad9ce09f7b6079707 Mon Sep 17 00:00:00 2001 From: Max Ghenis Date: Sun, 24 Aug 2025 08:43:42 -0400 Subject: [PATCH 1/6] Add federal tax parameters for 2024 Fixes #505 - Updated federal tax brackets for 2024 - Updated basic personal amount to ,705 - Updated phase-out thresholds to match new bracket boundaries --- changelog_entry.yaml | 4 ++++ .../cra/tax/income/credits/basic_personal_amount/base.yaml | 1 + .../tax/income/credits/basic_personal_amount/max_amount.yaml | 1 + .../basic_personal_amount/phase_out/threshold/end.yaml | 1 + .../basic_personal_amount/phase_out/threshold/start.yaml | 1 + .../parameters/gov/cra/tax/income/income_tax_schedule.yaml | 4 ++++ 6 files changed, 12 insertions(+) diff --git a/changelog_entry.yaml b/changelog_entry.yaml index e69de29bb..ad6809739 100644 --- a/changelog_entry.yaml +++ b/changelog_entry.yaml @@ -0,0 +1,4 @@ +- bump: minor + changes: + added: + - Federal tax parameters for 2024 including updated tax brackets and basic personal amount. \ No newline at end of file diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml index b5ee2bd60..b37ac9962 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml @@ -4,6 +4,7 @@ values: 2021-01-01: 12_421 2022-01-01: 12_719 2023-01-01: 13_521 + 2024-01-01: 14_156 metadata: unit: currency-CAD period: year diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml index 4c735c5e3..64da883c7 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml @@ -4,6 +4,7 @@ values: 2021-01-01: 13_808 2022-01-01: 14_398 2023-01-01: 15_000 + 2024-01-01: 15_705 metadata: unit: currency-CAD period: year diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/phase_out/threshold/end.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/phase_out/threshold/end.yaml index 9359db54a..c580681d5 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/phase_out/threshold/end.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/phase_out/threshold/end.yaml @@ -3,6 +3,7 @@ values: 2020-01-01: 200_000 2022-01-01: 221_708 2023-01-01: 235_675 + 2024-01-01: 246_752 metadata: unit: currency-CAD period: year diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/phase_out/threshold/start.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/phase_out/threshold/start.yaml index 9dc211e4c..5d2f026a2 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/phase_out/threshold/start.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/phase_out/threshold/start.yaml @@ -3,6 +3,7 @@ values: 2020-01-01: 140_388 2022-01-01: 155_625 2023-01-01: 165_430 + 2024-01-01: 173_205 metadata: unit: currency-CAD period: year diff --git a/policyengine_canada/parameters/gov/cra/tax/income/income_tax_schedule.yaml b/policyengine_canada/parameters/gov/cra/tax/income/income_tax_schedule.yaml index 774fbddb3..cb4c2e18a 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/income_tax_schedule.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/income_tax_schedule.yaml @@ -13,6 +13,7 @@ brackets: 2021-01-01: 49_020 2022-01-01: 50_197 2023-01-01: 53_359 + 2024-01-01: 55_867 rate: values: 2021-01-01: 0.205 @@ -23,6 +24,7 @@ brackets: 2021-01-01: 98_040 2022-01-01: 100_392 2023-01-01: 106_717 + 2024-01-01: 111_733 rate: values: 2021-01-01: 0.26 @@ -33,6 +35,7 @@ brackets: 2021-01-01: 151_978 2022-01-01: 155_625 2023-01-01: 165_430 + 2024-01-01: 173_205 rate: values: 2021-01-01: 0.29 @@ -43,6 +46,7 @@ brackets: 2021-01-01: 216_511 2022-01-01: 221_708 2023-01-01: 235_675 + 2024-01-01: 246_752 rate: values: 2021-01-01: 0.33 From 0b7c954c8ae6b9bb62b8fbd4b3e16ec87b78edb7 Mon Sep 17 00:00:00 2001 From: Max Ghenis Date: Sun, 24 Aug 2025 08:48:10 -0400 Subject: [PATCH 2/6] Add federal tax parameters for 2024 and 2025 Fixes #505 and #506 2024 Updates: - Updated federal tax brackets for 2024 - Basic personal amount increased to ,705 - Phase-out thresholds aligned with new bracket boundaries 2025 Updates: - Updated federal tax brackets for 2025 with 2.7% indexation - Lowest tax rate reduced from 15% to 14.5% (effective July 1, 2025) - Basic personal amount increased to ,129 - Added 2026 rate of 14% for full-year implementation --- changelog_entry.yaml | 3 ++- .../cra/tax/income/credits/basic_personal_amount/base.yaml | 1 + .../income/credits/basic_personal_amount/max_amount.yaml | 1 + .../basic_personal_amount/phase_out/threshold/end.yaml | 1 + .../basic_personal_amount/phase_out/threshold/start.yaml | 1 + .../parameters/gov/cra/tax/income/income_tax_schedule.yaml | 6 ++++++ 6 files changed, 12 insertions(+), 1 deletion(-) diff --git a/changelog_entry.yaml b/changelog_entry.yaml index ad6809739..5b2cd9d1a 100644 --- a/changelog_entry.yaml +++ b/changelog_entry.yaml @@ -1,4 +1,5 @@ - bump: minor changes: added: - - Federal tax parameters for 2024 including updated tax brackets and basic personal amount. \ No newline at end of file + - Federal tax parameters for 2024 and 2025 including updated tax brackets and basic personal amount. + - Federal tax rate reduction from 15% to 14.5% for 2025 (14% for 2026) on lowest bracket. \ No newline at end of file diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml index b37ac9962..827b70da4 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml @@ -5,6 +5,7 @@ values: 2022-01-01: 12_719 2023-01-01: 13_521 2024-01-01: 14_156 + 2025-01-01: 14_538 metadata: unit: currency-CAD period: year diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml index 64da883c7..d56021db0 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml @@ -5,6 +5,7 @@ values: 2022-01-01: 14_398 2023-01-01: 15_000 2024-01-01: 15_705 + 2025-01-01: 16_129 metadata: unit: currency-CAD period: year diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/phase_out/threshold/end.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/phase_out/threshold/end.yaml index c580681d5..cceb83e40 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/phase_out/threshold/end.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/phase_out/threshold/end.yaml @@ -4,6 +4,7 @@ values: 2022-01-01: 221_708 2023-01-01: 235_675 2024-01-01: 246_752 + 2025-01-01: 253_414 metadata: unit: currency-CAD period: year diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/phase_out/threshold/start.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/phase_out/threshold/start.yaml index 5d2f026a2..51c03742d 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/phase_out/threshold/start.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/phase_out/threshold/start.yaml @@ -4,6 +4,7 @@ values: 2022-01-01: 155_625 2023-01-01: 165_430 2024-01-01: 173_205 + 2025-01-01: 177_882 metadata: unit: currency-CAD period: year diff --git a/policyengine_canada/parameters/gov/cra/tax/income/income_tax_schedule.yaml b/policyengine_canada/parameters/gov/cra/tax/income/income_tax_schedule.yaml index cb4c2e18a..60c8e5aa6 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/income_tax_schedule.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/income_tax_schedule.yaml @@ -6,6 +6,8 @@ brackets: rate: values: 2021-01-01: 0.15 + 2025-01-01: 0.145 + 2026-01-01: 0.14 - threshold: values: 2019-01-01: 47_630 @@ -14,6 +16,7 @@ brackets: 2022-01-01: 50_197 2023-01-01: 53_359 2024-01-01: 55_867 + 2025-01-01: 57_375 rate: values: 2021-01-01: 0.205 @@ -25,6 +28,7 @@ brackets: 2022-01-01: 100_392 2023-01-01: 106_717 2024-01-01: 111_733 + 2025-01-01: 114_750 rate: values: 2021-01-01: 0.26 @@ -36,6 +40,7 @@ brackets: 2022-01-01: 155_625 2023-01-01: 165_430 2024-01-01: 173_205 + 2025-01-01: 177_882 rate: values: 2021-01-01: 0.29 @@ -47,6 +52,7 @@ brackets: 2022-01-01: 221_708 2023-01-01: 235_675 2024-01-01: 246_752 + 2025-01-01: 253_414 rate: values: 2021-01-01: 0.33 From 0916b6b98198b6013d77eb52d5f250bfa42db6db Mon Sep 17 00:00:00 2001 From: Max Ghenis Date: Sun, 24 Aug 2025 09:00:46 -0400 Subject: [PATCH 3/6] Add references for federal 2024-2025 tax parameters - Added CRA and Department of Finance references for tax rates - Added references for Basic Personal Amount values - Sources include official government pages and verified tax resources --- .../cra/tax/income/credits/basic_personal_amount/base.yaml | 4 +++- .../tax/income/credits/basic_personal_amount/max_amount.yaml | 4 +++- .../parameters/gov/cra/tax/income/income_tax_schedule.yaml | 4 ++++ 3 files changed, 10 insertions(+), 2 deletions(-) diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml index 827b70da4..d99c32b6f 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml @@ -14,4 +14,6 @@ metadata: - title: Government of Canada - Basic Personal amount href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/basic-personal-amount.html - title: Income Tax Act (E), (A), (118.1), (1.1) - href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-84.html?txthl=personal+amounts+amount+basic#s-118 + href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-84.html?txthl=personal+amounts+amount+basic#s-118 + - title: CRA 2024-2025 Basic Personal Amount (4.7% and 2.7% indexation) + href: https://www.taxtips.ca/taxrates/canada.htm diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml index d56021db0..e5ae3c7d8 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml @@ -14,4 +14,6 @@ metadata: - title: Government of Canada - Basic Personal amount href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/basic-personal-amount.html - title: Income Tax Act (E), (A), (118.1), (1.1) - href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-84.html?txthl=personal+amounts+amount+basic#s-118 + href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-84.html?txthl=personal+amounts+amount+basic#s-118 + - title: CRA 2024-2025 Basic Personal Amount Maximum + href: https://www.taxtips.ca/taxrates/canada.htm diff --git a/policyengine_canada/parameters/gov/cra/tax/income/income_tax_schedule.yaml b/policyengine_canada/parameters/gov/cra/tax/income/income_tax_schedule.yaml index 60c8e5aa6..534af18b6 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/income_tax_schedule.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/income_tax_schedule.yaml @@ -68,3 +68,7 @@ metadata: href: https://www.canada.ca/en/financial-consumer-agency/services/financial-toolkit/taxes-quebec/taxes-quebec-2/5.html - title: Government of Canada - Canadian income tax rates for individuals 2023 href: https://www.canada.ca/en/revenue-agency/services/tax/individuals/frequently-asked-questions-individuals/canadian-income-tax-rates-individuals-current-previous-years.html + - title: CRA 2024 Federal Tax Rates (4.7% indexation) + href: https://www.taxtips.ca/taxrates/canada.htm + - title: Department of Finance - Delivering a middle-class tax cut (2025 rate reduction) + href: https://www.canada.ca/en/department-finance/news/2025/05/delivering-a-middle-class-tax-cut.html From fb63e84ca420319c2cc2137bdc5800d17947b827 Mon Sep 17 00:00:00 2001 From: Max Ghenis Date: Sun, 24 Aug 2025 09:06:06 -0400 Subject: [PATCH 4/6] Update federal references to use primary CRA sources - Replace secondary sources with official T4127 Payroll Deductions Formulas - Add note where primary sources for exact values couldn't be found - Keep Department of Finance reference for 2025 rate reduction announcement --- .../cra/tax/income/credits/basic_personal_amount/base.yaml | 4 ++-- .../income/credits/basic_personal_amount/max_amount.yaml | 4 ++-- .../parameters/gov/cra/tax/income/income_tax_schedule.yaml | 6 ++++-- 3 files changed, 8 insertions(+), 6 deletions(-) diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml index d99c32b6f..b8e49d47a 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml @@ -15,5 +15,5 @@ metadata: href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/basic-personal-amount.html - title: Income Tax Act (E), (A), (118.1), (1.1) href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-84.html?txthl=personal+amounts+amount+basic#s-118 - - title: CRA 2024-2025 Basic Personal Amount (4.7% and 2.7% indexation) - href: https://www.taxtips.ca/taxrates/canada.htm + # Note: Unable to find primary CRA source for exact 2024-2025 base amounts + # Values calculated using 4.7% (2024) and 2.7% (2025) indexation factors from T4127 diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml index e5ae3c7d8..00a49a3bf 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml @@ -15,5 +15,5 @@ metadata: href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/basic-personal-amount.html - title: Income Tax Act (E), (A), (118.1), (1.1) href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-84.html?txthl=personal+amounts+amount+basic#s-118 - - title: CRA 2024-2025 Basic Personal Amount Maximum - href: https://www.taxtips.ca/taxrates/canada.htm + - title: T4127 Payroll Deductions Formulas (contains BPA max values) + href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/t4127-payroll-deductions-formulas.html diff --git a/policyengine_canada/parameters/gov/cra/tax/income/income_tax_schedule.yaml b/policyengine_canada/parameters/gov/cra/tax/income/income_tax_schedule.yaml index 534af18b6..91e3c0c3f 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/income_tax_schedule.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/income_tax_schedule.yaml @@ -68,7 +68,9 @@ metadata: href: https://www.canada.ca/en/financial-consumer-agency/services/financial-toolkit/taxes-quebec/taxes-quebec-2/5.html - title: Government of Canada - Canadian income tax rates for individuals 2023 href: https://www.canada.ca/en/revenue-agency/services/tax/individuals/frequently-asked-questions-individuals/canadian-income-tax-rates-individuals-current-previous-years.html - - title: CRA 2024 Federal Tax Rates (4.7% indexation) - href: https://www.taxtips.ca/taxrates/canada.htm + - title: T4127 Payroll Deductions Formulas - 119th Edition (2024 rates) + href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/payroll-deductions-t4127-payroll-deductions-formulas/t4127-jan-119th-edition-effective-january-1-2024/t4127-jan-payroll-deductions-formulas-computer-programs.html + - title: T4127 Payroll Deductions Formulas - 120th Edition (2025 rates) + href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/t4127-payroll-deductions-formulas/t4127-jan/t4127-jan-payroll-deductions-formulas-computer-programs.html - title: Department of Finance - Delivering a middle-class tax cut (2025 rate reduction) href: https://www.canada.ca/en/department-finance/news/2025/05/delivering-a-middle-class-tax-cut.html From 99c197da23c3102445588d3dc50283f2d43babfd Mon Sep 17 00:00:00 2001 From: Max Ghenis Date: Sun, 24 Aug 2025 09:13:59 -0400 Subject: [PATCH 5/6] Add proper CRA references for all BPA values Found official CRA sources in T4127 Payroll Deductions Formulas: - 2023: base ,521, max ,000 (117th Edition) - 2024: base ,156, max ,705 (119th Edition) - 2025: base ,538, max ,129 (120th Edition) All values now have primary government source references. --- .../tax/income/credits/basic_personal_amount/base.yaml | 8 ++++++-- .../income/credits/basic_personal_amount/max_amount.yaml | 8 ++++++-- 2 files changed, 12 insertions(+), 4 deletions(-) diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml index b8e49d47a..2947726c8 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml @@ -15,5 +15,9 @@ metadata: href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/basic-personal-amount.html - title: Income Tax Act (E), (A), (118.1), (1.1) href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-84.html?txthl=personal+amounts+amount+basic#s-118 - # Note: Unable to find primary CRA source for exact 2024-2025 base amounts - # Values calculated using 4.7% (2024) and 2.7% (2025) indexation factors from T4127 + - title: T4127 Payroll Deductions Formulas - 117th Edition (2023 BPA = $13,521) + href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/payroll-deductions-t4127-payroll-deductions-formulas/t4127-jan-117th-edition-effective-january-1-2023/t4127-jan-payroll-deductions-formulas.html + - title: T4127 Payroll Deductions Formulas - 119th Edition (2024 BPA = $14,156) + href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/payroll-deductions-t4127-payroll-deductions-formulas/t4127-jan-119th-edition-effective-january-1-2024/t4127-jan-payroll-deductions-formulas-computer-programs.html + - title: T4127 Payroll Deductions Formulas - 120th Edition (2025 BPA = $14,538) + href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/t4127-payroll-deductions-formulas/t4127-jan/t4127-jan-payroll-deductions-formulas-computer-programs.html diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml index 00a49a3bf..623393f09 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml @@ -15,5 +15,9 @@ metadata: href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/basic-personal-amount.html - title: Income Tax Act (E), (A), (118.1), (1.1) href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-84.html?txthl=personal+amounts+amount+basic#s-118 - - title: T4127 Payroll Deductions Formulas (contains BPA max values) - href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/t4127-payroll-deductions-formulas.html + - title: T4127 Payroll Deductions Formulas - 117th Edition (2023 max BPA = $15,000) + href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/payroll-deductions-t4127-payroll-deductions-formulas/t4127-jan-117th-edition-effective-january-1-2023/t4127-jan-payroll-deductions-formulas.html + - title: T4127 Payroll Deductions Formulas - 119th Edition (2024 max BPA = $15,705) + href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/payroll-deductions-t4127-payroll-deductions-formulas/t4127-jan-119th-edition-effective-january-1-2024/t4127-jan-payroll-deductions-formulas-computer-programs.html + - title: T4127 Payroll Deductions Formulas - 120th Edition (2025 max BPA = $16,129) + href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/t4127-payroll-deductions-formulas/t4127-jan/t4127-jan-payroll-deductions-formulas-computer-programs.html From 3b57ca9cf97f0e3ecfe6bbdd72cb9ef96a791292 Mon Sep 17 00:00:00 2001 From: Max Ghenis Date: Sun, 24 Aug 2025 09:24:40 -0400 Subject: [PATCH 6/6] Add comprehensive CRA references for all parameter years - Added T4127 references for all years 2021-2025 - Each year now has its specific T4127 edition reference - Added notes where 2020 values come from general CRA page - All parameter values now have primary source documentation --- .../credits/basic_personal_amount/base.yaml | 5 +++++ .../basic_personal_amount/max_amount.yaml | 5 +++++ .../gov/cra/tax/income/income_tax_schedule.yaml | 16 +++++++++++++--- 3 files changed, 23 insertions(+), 3 deletions(-) diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml index 2947726c8..48c9b573f 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/base.yaml @@ -15,6 +15,11 @@ metadata: href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/basic-personal-amount.html - title: Income Tax Act (E), (A), (118.1), (1.1) href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-84.html?txthl=personal+amounts+amount+basic#s-118 + # Note: 2020 value from CRA historical rates page + - title: T4127 Payroll Deductions Formulas - 113th Edition (2021 BPA = $12,421) + href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/payroll-deductions-t4127-payroll-deductions-formulas/t4127-jan-113th-edition-effective-january-1-2021/t4127-jan-payroll-deductions-formulas-computer-programs.html + - title: T4127 Payroll Deductions Formulas - 115th Edition (2022 BPA = $12,719) + href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/payroll-deductions-t4127-payroll-deductions-formulas/t4127-jan-115th-edition-effective-january-1-2022/t4127-jan-payroll-deductions-formulas-computer-programs.html - title: T4127 Payroll Deductions Formulas - 117th Edition (2023 BPA = $13,521) href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/payroll-deductions-t4127-payroll-deductions-formulas/t4127-jan-117th-edition-effective-january-1-2023/t4127-jan-payroll-deductions-formulas.html - title: T4127 Payroll Deductions Formulas - 119th Edition (2024 BPA = $14,156) diff --git a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml index 623393f09..461312961 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/credits/basic_personal_amount/max_amount.yaml @@ -15,6 +15,11 @@ metadata: href: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/basic-personal-amount.html - title: Income Tax Act (E), (A), (118.1), (1.1) href: https://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-84.html?txthl=personal+amounts+amount+basic#s-118 + # Note: 2020 value from CRA historical rates page + - title: T4127 Payroll Deductions Formulas - 113th Edition (2021 max BPA = $13,808) + href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/payroll-deductions-t4127-payroll-deductions-formulas/t4127-jan-113th-edition-effective-january-1-2021/t4127-jan-payroll-deductions-formulas-computer-programs.html + - title: T4127 Payroll Deductions Formulas - 115th Edition (2022 max BPA = $14,398) + href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/payroll-deductions-t4127-payroll-deductions-formulas/t4127-jan-115th-edition-effective-january-1-2022/t4127-jan-payroll-deductions-formulas-computer-programs.html - title: T4127 Payroll Deductions Formulas - 117th Edition (2023 max BPA = $15,000) href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/payroll-deductions-t4127-payroll-deductions-formulas/t4127-jan-117th-edition-effective-january-1-2023/t4127-jan-payroll-deductions-formulas.html - title: T4127 Payroll Deductions Formulas - 119th Edition (2024 max BPA = $15,705) diff --git a/policyengine_canada/parameters/gov/cra/tax/income/income_tax_schedule.yaml b/policyengine_canada/parameters/gov/cra/tax/income/income_tax_schedule.yaml index 91e3c0c3f..619c546f8 100644 --- a/policyengine_canada/parameters/gov/cra/tax/income/income_tax_schedule.yaml +++ b/policyengine_canada/parameters/gov/cra/tax/income/income_tax_schedule.yaml @@ -64,12 +64,22 @@ metadata: name: federal_tax_rates label: Federal tax rates reference: - - title: Government of Canada - 9.2.4 Tax brackets and rates - href: https://www.canada.ca/en/financial-consumer-agency/services/financial-toolkit/taxes-quebec/taxes-quebec-2/5.html - - title: Government of Canada - Canadian income tax rates for individuals 2023 + # 2019-2020 rates + - title: Government of Canada - Canadian income tax rates for individuals href: https://www.canada.ca/en/revenue-agency/services/tax/individuals/frequently-asked-questions-individuals/canadian-income-tax-rates-individuals-current-previous-years.html + # 2021 rates + - title: T4127 Payroll Deductions Formulas - 113th Edition (2021 rates) + href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/payroll-deductions-t4127-payroll-deductions-formulas/t4127-jan-113th-edition-effective-january-1-2021/t4127-jan-payroll-deductions-formulas-computer-programs.html + # 2022 rates + - title: T4127 Payroll Deductions Formulas - 115th Edition (2022 rates) + href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/payroll-deductions-t4127-payroll-deductions-formulas/t4127-jan-115th-edition-effective-january-1-2022/t4127-jan-payroll-deductions-formulas-computer-programs.html + # 2023 rates + - title: T4127 Payroll Deductions Formulas - 117th Edition (2023 rates) + href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/payroll-deductions-t4127-payroll-deductions-formulas/t4127-jan-117th-edition-effective-january-1-2023/t4127-jan-payroll-deductions-formulas.html + # 2024 rates - title: T4127 Payroll Deductions Formulas - 119th Edition (2024 rates) href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/payroll-deductions-t4127-payroll-deductions-formulas/t4127-jan-119th-edition-effective-january-1-2024/t4127-jan-payroll-deductions-formulas-computer-programs.html + # 2025 rates - title: T4127 Payroll Deductions Formulas - 120th Edition (2025 rates) href: https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/t4127-payroll-deductions-formulas/t4127-jan/t4127-jan-payroll-deductions-formulas-computer-programs.html - title: Department of Finance - Delivering a middle-class tax cut (2025 rate reduction)