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Financial Information 		Detailed Canadian Income Tax Calculator

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Calculators > Canadian income tax planning calculator

Detailed Canadian Income Tax and RRSP Savings Calculators

Note re Windows 8 and Internet Explorer 10:  You may have to use compatibility view to view the 2012/13 and 2011 Tax Calculators properly.  If you see a blank screen, but find the calculator is there when you scroll down, try compatibility view.  Or, you could try Chrome or Firefox.  Chrome seems to load pages faster, and doesn't have a "back button" problem.

The detailed Canadian income tax calculator (select below) works for all provinces and territories except Québec (which has its own calculator). 

Canadian Income Tax Calculator for 2012 and 2013

Prior year income tax calculators:

Canadian Income Tax Calculator for 2011

Canadian Income Tax Calculator for 2010

Canadian Income Tax Calculator for 2009

Canadian Income Tax Calculator for 2008

The income tax calculator includes most available deductions and tax credits, and pension splitting.  It is a tax planning tool and financial planning tool, but will not actually file your tax return for you.  It will be especially useful as a tax planning tool for those who have some control over their income, such as

bullet people making RRIF/RRSP withdrawals
bullet incorporated business owners
bullet investors trying to decide between investments which produce capital gains, Canadian dividends, or other investment income

The calculator includes links to information on many of the non-refundable tax credits.  The links open in the same window, replacing the calculator, but when the browser Back button is clicked, the previously entered information is still available in the calculator.  To open the links in a new window, right-click on the link, and select "Open in New Window".

Features:

bulletincludes tax rates known as of the date shown in the calculator.
bullet calculates taxes for both spouses
bullet calculates alternative minimum tax using available information
bullet shows savings from RRSP deductions, and marginal tax rate (when RRSP deduction amount is entered)
bullet calculates CPP and EI premiums on employment and self-employment (CPP only) income
bullet option to indicate that employment earnings are not subject to EI premiums (useful for incorporated business owners earning employment income)
bullet calculates OAS clawback and EI clawback
bullet allows pension splitting
bullet child care costs are now entered separately from other deductions.
bullet interest expense and other deductions can be entered in "other deductions" line
bullettax credits calculated:
bullet basic personal amount
bullet spouse or common-law spouse
bullet equivalent to spouse, including dependent child or other eligible dependent  
bullet children under 18 (SK under 19), with option to choose which spouse claims this amount
bullet children under 6 (some provinces/territories)
bullet pension credit
bullet age amount - this is reduced above certain income thresholds
bullet disability tax credit
bullet public transit tax credit (Federal and YT)
bulletNL child care costs tax credit
bullet child fitness tax credit (Federal, MB, NS, & YT)
bullet children's arts tax credit (Federal & MB)
bullet ON children's activity tax credit
bullet SK active families benefit
bullet NS healthy living tax credit
bullet Home renovation tax credit - available for 2009 only
bullet First-time homebuyers' tax credit
bulletOntario healthy homes tax credit - refundable
bulletBC seniors' home renovation tax credit - refundable
bulletBC sales tax credit - starting again in 2013 re return of PST
bullet medical expense tax credit
bullet donations tax credit - will alert you if your donations exceed 75% of net income, or if all donations not utilized
bullet dividend tax credits
bullet tuition, education and textbooks, student loan interest
bullet 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.
bulletRe WITB Rates used in the Calculator:  WITB rates for 2012 are estimated based on the federal indexation factor.

The article on the pension income tax credit explains how pension splitting can result in a pension tax credit for the spouse receiving the transferred pension.

If you want to compare different scenarios, come back to this page to open the calculator a second time (right click the link, and select open in new window), and compare them side by side.

To see the current tax rate tables for each province, go to the Tax Rates page and click on the link for your province, or go to the marginal tax rates page.

Basic Tax Calculator

If you are looking for a more simple tax calculator, see our Basic Canadian Income Tax Calculator, where you input your income from capital gains, Canadian eligible and non-eligible dividends, and other income, in order to see the taxes payable for a single person.

See topics and glossary items related to the Canadian Tax Calculator:

bullet Alternative minimum tax (as it relates to eligible Canadian dividends)
bullet Capital gains and losses
bullet CCPC
bullet CPP and EI premiums, and EI clawback
bullet Employment income
bullet Foreign income and other amounts - reporting them on your tax return
bullet Marginal tax rate
bullet Non-taxable amounts
bulletPension splitting
bullet Personal tax credits (except  Québec)
bullet RRSP Deduction
bullet Taxable Income, Net Income and Total Income

Check out our other calculators.

 

Revised: May 15, 2013

 

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