people making RRIF/RRSP withdrawals

incorporated business owners

investors trying to decide between investments which produce capital gains, Canadian dividends, or other investment income

includes tax rates known for 2010 and 2009 as of the date shown in the calculator.

calculates taxes for both spouses

calculates alternative minimum tax using available information

shows savings from RRSP deductions, and marginal tax rate (when RRSP deduction amount is entered)

calculates CPP and EI premiums on employment and self-employment (CPP only) income

option to indicate that employment earnings are not subject to EI premiums (useful for incorporated business owners earning employment income)

calculates OAS clawback and EI clawback

tax credits calculated:

	basic personal amount
	spouse
	equivalent to spouse, including dependent child or other eligible dependent
	children under 18, with option to choose which spouse claims this amount
	children under 6 (some provinces/territories)
	pension credit, age amount
	disability tax credit
	public transit tax credit (Federal and YT)
	child fitness tax credit (Federal, MB & YT)
	NS healthy living tax credit
	Home renovation tax credit - available for 2009 only
	First-time homebuyers' tax credit
	medical, donations
	dividend tax credits
	tuition, education and textbooks, student loan interest
	Working income tax benefit (WITB) - Note:  you are required to indicate in the calculator if you are eligible for the WITB.  If you indicate that you qualify, the calculator will determine the amount you will receive, if any, based on your income.  Read the article on the WITB (above link) to determine if you qualify.
	Re WITB Rates used in the Calculator:  All WITB rates have been updated for 2009 and 2010.

Alternative minimum tax (as it relates to eligible Canadian dividends)

Capital gains and losses

CCPC

CPP and EI premiums, and EI clawback

Employment income

Foreign income and other amounts - reporting them on your tax return

Marginal tax rate

Non-taxable amounts

Personal tax credits (except  Québec)

RRSP Deduction

Taxable Income, Net Income and Total Income