What is TD1?
TD1, Personal Tax Credits Return, is a form used to determine the amount of tax to be deducted from an individual's employment income or other income, such as pension income. There are federal and provincial/territorial TD1 forms.
Individuals complete these forms and provide them to their employer who keeps the completed documents with their records.
Who should complete the TD1 form?
Individuals who meet one of the following criteria should complete the form and provide it to their employer:
- have a new employer or payer
- want to change amounts from previous claimed
- want to claim the deduction for living in a prescribed zone
- want to increase the amount of tax deducted at source
Individuals do not have to complete a new TD1 every year unless there is a change to their federal, provincial or territorial personal tax credit amounts.
Additional Resources
- For more information on TD1 forms, who should complete them, and how to complete them, see this guide on Filing Form TD1, Personal Tax Credits Return
- Need to complete a TD1-WS Worksheet? Access the form here
Federal TD1 Changes for 2024
The following table provides a list of federal TD1 changes for 2023:
*The amount is indexed after 2023. For individuals whose net income is greater than the amount at which the 29% tax bracket begins ($150,473 for 2020), the increase in the basic personal amount gradually phases out so that the basic personal amount for individuals whose income is greater than the next tax bracket threshold ($214,368 for 2020), remains unchanged ($12,298 for 2020) and continues to be indexed.
Provincial TD1 Changes for 2024
The following table provides a list of provincial TD1 changes for 2023 as well as as links to the provincial TD1 form:
**For 2024, employers are to use the maximum Nova Scotia basic personal amount (BPANS) of $11,481 for all employees unless the employee provides a new Form TD1. If the BPANS formula was previously implemented on your payroll system, you can continue to use it.
***For 2024, employers are to use the maximum Yukon basic personal amount (BPAYT) of $15,000 for all employees unless the employee provides a new Form TD1. If the BPAYT formula was previously implemented on your payroll system, you can continue to use it.
Disclaimer: The information provided in this guide is for informational purposes only. It is not professional financial or legal advice nor is it intended to be a substitute therefore. Where there are discrepancies between the guide and information provided by the federal government, provincial government, or the Canadian Revenue Agency (CRA) or Revenu Québec, defer to the guidelines provided by the governing agencies.