Please click on the links below to view the Income Tax Slabs and Rates for the Assessment Year 2014-15 (applicable on income earned during 01.04.2013 to 31.03.2014) for various categories of Indian Income Tax payers.
Old age security. Old age security (OAS) is a federally funded monthly pension, which is paid to eligible seniors who have reached the age of 65, are Canadian citizens or permanent residents, and have lived in Canada for at least 10 years after the age of 18.
All out-of-state government pensions qualify for the pension exclusion: for tax year beginning on or after January 1, 2012, the maximum retirement exclusion for taxpayers age 65 or older is$65,000. The retirement exclusion for taxpayers who are age 62 to 64, or less than 62 and permanently disabled, remains at $35,000.ll out-of-state government pensions qualify for the pension exemption: age 55 or older or disabled receives an exemption. The exemption for single and head of household filers is $6,000 and for married filing joint filers is $12,000 but not to exceed the amount included in Federal Adjusted Gross Income.