What is a basic personal amount?

The basic personal amount is the amount of income you can earn without having to pay any income tax.

What is the basic personal amount for this year?

The amount for 2023 was $13,521 and will be increasing by indexation to $14,156 in 2024.

Updates & Announcements

On December 9, 2019, the federal government announced that an “additional amount” would be added for 2020 and later, increasing the total Basic Personal Amount to $15,000 by 2023.

For 2023, this additional amount is $1,479 bringing the Basic Personal Amount to $15,000. For 2024, the additional amount is $1,549 bringing the Basic Personal Amount to $15,705.

The additional amount is gradually reduced with income in excess of $173,205, and reduced to zero when income reaches $246,732 in 2024.

Government of Canada – Non-refundable and refundable tax credits