Manitoba dividend tax, 2026

At the top bracket, Manitoba taxes eligible Canadian dividends at 37.78% against 50.40% on ordinary income — an advantage of 12.62 points for holding the same money as dividends rather than as interest or salary.

Top eligible dividend rate: 37.78%
Rank of 13: 8; 1 is the lowest rate
First bracket to: $47,000

Every bracket

Taxable income up to	Eligible dividends	Non-eligible	Capital gains	Ordinary income
$47,000	2.46%	17.23%	12.40%	24.80%
$58,523	5.15%	19.48%	13.38%	26.75%
$100,000	14.12%	26.95%	16.63%	33.25%
$117,045	20.53%	32.30%	18.95%	37.90%
$181,440	28.12%	38.62%	21.70%	43.40%
$200,000	32.67%	42.40%	23.35%	46.69%
$258,482	33.84%	43.38%	23.77%	47.54%
$400,000	38.96%	47.65%	25.63%	51.25%
and above	37.78%	46.67%	25.20%	50.40%

Reading these figures

Dividend rates apply to the dividend actually received, not to the grossed-up amount — the 38% gross-up and the dividend tax credit are already inside them. Capital gains rates apply to the whole gain, not the taxable half. Applying either adjustment again double-counts it.

Nationally

Manitoba ranks 8 of 13 on the top eligible dividend rate, where 1 is lowest. The range runs from 28.33% (Northwest Territories) to 46.20% (Newfoundland and Labrador). Compare all 13.

The threshold above these

Marginal rate is not the whole cost. Above $95,323 of net income, Old Age Security is recovered at 15% — and net income counts the grossed-up dividend, so eligible dividends reach that threshold on roughly 28% less cash than other income does. How that works.

Transcribed 2026-08-06 from a published rate table (source); the underlying brackets and credit rates are set federally and by the province (official figures). Machine-readable: rates.json.