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Investment Income Tax Calculator

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TaxTips.ca Calculators -> Investment Income Tax Calculator information page  Note:  This calculator will retain data.  Click Reset before closing if using on a public computer.
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Investment Income Tax Calculator  
Illustration of the Effect of Different Investment Income Types
Tax Year
    Taxes Payable
Taxpayer Information   Taxes Before Clawback
Province of Residence
Clawback Payable
Birth Year
Total Taxes Payable
Income Actual Taxable   Try shifting income from other income to Canadian eligible or non-eligible dividends, and see the difference in taxes payable, even when the OAS clawback might increase.

Enter above results below, shift some income, and see the difference.
Old Age Security
CPP
Capital Gains
Enter the actual amount of capital gains in excess of losses.
Canadian Eligible Dividends
Enter the actual amount of dividends.
Canadian Non-Eligible Dividends
Enter the actual amount of dividends.
RRSP/RRIF Withdrawals
Only include RRIF withdrawals if age is less than 65.
  Other Income   Previous Calculation Results
Include interest and foreign dividends, etc.
Taxes Before Clawback
Pension Income Eligible for Pension Tax Credit
Clawback Payable
This would include RRIF withdrawals when age is 65+.
Total Taxes Payable
  Pension income not eligible for pension tax credit should be in other income.   Difference
Taxes Before Clawback
Less OAS Clawback
Clawback Payable
Actual and Taxable Income
Total Taxes Payable
If income is moved from "other income" to Canadian dividends, total taxes will be reduced even as the OAS clawback increases.
This calculator includes the same tax credits as the detailed Canadian Tax Calculator.
Calculations are based on rates known as of December 10, 2015.
2016 indexation factors, tax brackets and most tax credit amounts have been confirmed to CRA amounts.

Tax Tip: Don't avoid Canadian dividends because of the OAS clawback - they are more tax-efficient than most other income, and can reduce your taxes even though your clawback is increasing!

Questions or comments on the Investment Income Tax Calculator?  Please e-mail us at admin@taxtips.ca.
We normally reply within 1 business day - no reply? Check your spam folder.

Revised: January 04, 2016

 

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