Tax Credits 2024 Canada Income Limit. The federal tax brackets and personal tax credit amounts are increased for 2024 by an indexation factor of 1.047 (a 4.7% increase). This tax credit is available to individuals who are, at the end.

Tax credits and tax deductions. The 2024 limit is $31,560 (i.e., for contributions made by march 1, 2025), up from $30,780 for 2023 (march 1, 2024, deadline).