Standard Deduction For Seniors 2024 Tax2024 Income Tax Brackets Canada. Here are the latest income tax slabs that will be effective for the current financial year after budget 2024. For 2024 (tax returns typically filed in april 2025), the standard deduction amounts are $14,600 for single and for those who are married, filing separately;
2024 federal income tax rates. For salaried employees opting for new tax regimes, the standard deduction has been increased from โน50,000 to โน75,000.