Nunavut Income Tax Calculator
Easily estimate take home pay after income tax so you can have an idea of what to possibly expect when planning your budget
Last reviewed on January 29, 2023
Results
Income Before Tax
Take Home Pay
Total Tax
Average Tax Rate
$ = Canadian Dollar
Income Before Tax
Federal Income Tax
Federal Non-Refundable Tax Credits
Quebec Federal Tax Abatement
Territorial Income Tax
Territorial Non-Refundable Tax Credits
Territorial Surtax
Territorial Non-Refundable "Tax Reduction"
Canada Pension Plan (CPP)
Employment Insurance (EI)
Quebec Pension Plan (QPP)
Quebec Parental Insurance Plan (QPIP)
Quebec Health Services Fund
Ontario Health Premium
Total Tax
Take Home Pay
Total Deductions
Average Tax Rate
Table of Contents
Summary
Enter your employment income into the income tax calculator above to estimate how taxes in Nunavut, Canada may affect your finances. You'll then get your estimated take home pay, an estimated breakdown of your potential tax liability, and a quick summary down here so you can have a better idea of what to possibly expect when planning your budget.
To learn more about Nunavut, its income tax, and tax brackets, so that you can get a deeper understanding of how your budget and finances may be affected, scroll down to the detail section below!
Frequently Asked Questions
What is the income tax rate in Nunavut?
The territorial income tax rate in Nunavut is progressive and ranges from 4% to 11.5% while federal income tax rates range from 15% to 33% depending on your income. This income tax calculator can help estimate your average income tax rate and your take home pay.
How many income tax brackets are there in Nunavut?
The territorial income tax system in Nunavut has four different tax brackets. For more details, check out our detail section.
How to Calculate Nunavut Net Income
Nunavut, a land where icy fjords and majestic glaciers intertwine with ancient Inuit traditions, creating a tapestry of culture and natural wonder. From the towering peaks of the Arctic Cordillera mountain range to the vast expanse of ice that covers nearly half of the territory during winter months, Nunavut offers a unique and breathtaking landscape unlike any other. Despite its isolation from the rest of Canada, this remote region has managed to maintain a vibrant community of Indigenous peoples who have called this place home for thousands of years.
As Nunavut continues to evolve and grow, one aspect of life here remains constant: the need to pay income taxes just like every other Canadian citizen. So how does your net income work in Nunavut? Let's take a look.
Your net income is formed after subtracting various income taxes from different levels of government.
The territorial income tax system specific to Nunavut is a progressive tax system, which means that your income is split into multiple brackets, where lower brackets are taxed at lower rates and higher brackets are taxed at higher rates. Tax rates in Nunavut range from 4% to 11.5%, depending on your income level. To help you understand the tax brackets, we have included a table of Nunavut tax brackets below.
Nunavut Income Tax Brackets
For 2022 tax year
| Taxable Income (CAD) | Tax Rate |
|---|---|
| First 47,862 | 4% |
| From 47,862 to 95,724 | 7% |
| From 95,724 to 155,625 | 9% |
| From 155,625 onwards | 11.5% |
When it comes to calculating your income tax, you may wonder what tax deductions and tax credits are and how they affect your tax bill. In Canada, tax deductions are not very common and are mostly limited to specific situations. Instead, Canada often uses tax credits to reduce your income tax liability. Tax credits are items that you can subtract from your income tax after you have calculated it based on your taxable income.
However, there are some important things to know about tax credits here.
One, most of them are non-refundable. If your tax credits are more than your tax, you will not get a refund of the excess amount.
Two, most of them are expressed in dollar "amounts" that are not directly subtracted from your tax. Rather, they are multiplied by the lowest tax rate and then subtracted from your income tax.
One of the most common and universal tax credits is the basic personal amount. This is an amount that every resident of Nunavut can claim. For 2022, the basic personal amount in Nunavut is $16,862.
Residents in Nunavut are also eligible for an easy to access cost of living tax credit which varies depending on your income while maxing out at $1,500 to help offset the high cost of living in Nunavut.
Your income will also see federal income tax as well. We have an entire section dedicated to this below.
Social Security
Besides paying income tax, you will also pay taxes for social security. In the majority of Canada, social security primarily encompasses the Canada Pension Plan (CPP) and Employment Insurance (EI). The rates for CPP and EI contributions stand at 5.7% and 1.58%, respectively. It is important to be aware that there are maximum limits on the income subject to these contributions.
Furthermore, in order to alleviate the impact of social security contributions, there are corresponding tax credits available, applicable up to certain thresholds. These credits can be utilized at both the territorial and federal levels, offering some relief from the burden of these contributions.
Sources:
More From Investomatica:
For sales tax, please visit our Nunavut Sales Tax Rates and Calculator page.
Calculate Your Income Tax in Other Provinces and Territories
Calculate Your Income Tax in Other Parts of North America
Disclaimer
- The content shown on this page is strictly for educational purposes only. It does not represent advice nor is it a substitute for a professional advisor.
- Estimated results are just estimates. They are not a guarantee of future results.
- Tax situations vary widely and calculations can get very complex. This income tax calculator only provides a rough estimate according to the most common scenarios for standard employment income that comes from an employer. If you are self-employed, your taxes might differ.
- There may be additional deductions, credits, exemptions, allowances, reliefs, etc depending on many factors. Some factors are about your family such as the number of dependents, children, relatives, parents, etc. Other factors may include mortgage payments, property depreciation, charitible donations, additional voluntary retirement contributions, etc. Whether or not you are handicapped and/or disabled may also sometimes be an additional factor.
- Depending on region and jurisdiction, salary bonuses may be treated and taxed differently from standard salary.
- Calculators from other sites may show slightly different numbers due to different deductions/credits being included or they are based on data from a different year.
- Generally, we review changes once a year since tax codes usually change once a year. If you notice a major miscalculation or error with our income tax calculator (most likely caused by a typo somewhere), feel free to direct message us on twitter and let us know. However, if you have specific questions about your own personal situation, please consult a licensed tax professional.
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