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2013 and 2014 Canadian Income Tax Calculator

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TaxTips.ca Calculators -> Canadian Tax Calculator instructions  Try our New Format Canadian Tax Calculator  (will open in a new window) - it will retain data for you.
Type amounts into yellow cells. Tab or use your mouse to click on the next cell.
Amounts are recalculated automatically when you tab out of a cell or click elsewhere with your mouse, or click the Calculate button.
    Choose your province   Choose tax year    
To open links without closing the calculator, right-click on the link and select open in new window.   Taxpayer   Spouse   Combined Taxes Payable
Birth year     Taxpayer   Spouse
Birth month (needed for CPP premiums if turning 18 or 70 during year)     Fed
Are you eligible to claim the disability amount tax credit?    
Are you single? (must be "N" to calculate spouse tax)       Total
Are you eligible to claim the working income tax benefit (WITB)?     <- Grand Total
Information re dependent children and eligible dependent tax credit
# children age 16 or less at Dec 31 of tax year -born  
# children age 17 at Dec 31 of tax year -born # children age 18 at Dec 31
Total # children age 17 or less at Dec 31 Total # children age 18 or less at Dec 31
If not single, claim Federal child amount tax credit on the return of
  If eligible, claim the equivalent to spouse (eligible dependent) tax credit for ONE of the following dependents:
Child age 18 or less at the end of year  
Age of this child at the end of year (zero if under 1)    
OR other eligible relative  
Net income of dependent claimed as equivalent to spouse
INCOME Taxable Income
Income from:   Federal Line# Taxpayer   Spouse   Taxpayer   Spouse
  Employment (T4 box 14) Line 101      
  Are you required to pay EI premiums on ALL the above earnings (up to annual max)?  
  If you answered "N" above, please enter the insurable amount of your earnings, if any, below:      
  EI insurable earnings  
  Are you required to pay CPP contributions on ALL the above earnings (up to annual max)?        
  If you answered "N" above, please enter the pensionable amount of your earnings, if any, below:      
  CPP pensionable earnings  
  Universal child care benefit (UCCB) (RC62 box 10): Line 117              
  - will be claimed by spouse with lower "net income before adjustments"        
  Employment insurance regular benefits (EI) (T4E box 15, if rate in box 7 is 30%)      
  Old Age Security (OAS) (T4A(OAS) box 18) Line 113      
  CPP/QPP retirement or disability pension (T4A(P) box 20) Line 114      
  # months in year collecting CPP pension          
  If you are 65 to 70 and collecting CPP, please indicate the # of months, if any, for which      
  you are electing to NOT make CPP contributions in the year  
  Self-employment income (include bus. income/loss from rentals) Line 135-143      
  CPP pensionable self-employment earnings          
  Capital gains in excess of capital losses (zero if negative) - actual, not taxable      
  Cdn dividends eligible for enhanced div tax credit (T5 box 24) Line 120      
  NL residents: enter TOTAL 2014 eligible & non-eligible dividends here, and post-June 30th 2014 dividends below at bottom of income fields.
  Cdn non-eligible dividends (T5 box 10) Line 180, also in Line 120      
  RRSP/RRIF withdrawals (when not eligible for pension tax credit)      
  Other income (EI special benefits, interest, foreign dividends, some pensions, etc)      
  Pension income (eligible for pension tax credit for persons 65+)      
  Qualified pension income (eligible for pension credit for any age)      
  Qualified pension income (eligible for pension tax credit even if taxpayer is under 65) includes
- life annuity payments from a superannuation or pension plan
- pmts from a RRIF, or annuity pmts from an RRSP or from a DPSP, received as a result of the death of a spouse or common-law partner.
  Workers' compensation benefits (box 10 on the T5007 slip) Line 144      
  Social assistance payments Line 145      
  Net federal supplements (box 21 on the T4A (OAS) slip) Line 146      
  Workers' compensation, social assistance and net federal supplements are included above, and deducted below to arrive at taxable income.
  NS Seniors with GIS income on line 146 and provincial taxes payable on line 428 may get a refund of tax. Subtotal    
  Newfoundland & Labrador only - re Cdn eligible dividends received in 2014 and included in above total:      
  Amount of Cdn eligible dividends received Jul 1 to Dec 31, 2014  
  Newfoundland & Labrador only - re Cdn non-eligible dividends received in 2014 and included in above total:      
  Amount of Cdn non-eligible dividends received Jul 1 to Dec 31, 2014  
 
Pension splitting - maximum allowable is 50% of eligible pension income. Make sure birth year entered for both Taxpayer and Spouse.
Make sure marital status above is correct, and enter number of months married.
  Number of months married or living common-law
A. Total pension income eligible for pension tax credit (based on age)          
  Maximum pension amount transferable (50% x A/12 x #months married)          
  Amount that you are electing to transfer - from taxpayer to spouse      
  Amount that you are electing to transfer - from spouse to taxpayer            
  Transfer of pension income Line 116 $ from taxpayer to spouse        
    $ from spouse to taxpayer        
Any resulting additions to pension income are shown here, and reductions to income are in deductions area on Line 210.
  After pension splitting - pension income eligible for pension tax credit          
    The tax deducted from pension income should also be included in the "Total income tax deducted" (at bottom).
  Total tax deducted from pension income (A above) of taxpayer    
  Total tax deducted from pension income (A above) of spouse    
Total income for tax purposes - line 150  
DEDUCTIONS Taxpayer   Spouse
  RRSP deduction Line 208      
  Other deductions (RPP, union dues, child care, interest expense, etc.)      
  Child care costs - not checked to see if exceeding limits Line 214      
 
  Deduction for elected split-pension amount Line 210          
  Deduction for 50% of CPP on self-employment income Line 222          
Net income before adjustments (for calculation of clawbacks, zero if negative) - Line 234  
  Clawback of EI and OAS Line 235  
Net income for tax purposes - Line 236  
  Workers' compensation, social assistance, net federal supplements      
  Net capital losses of other years (after Oct 17, 2000) Line 253      
  Non-capital losses of other years Line 252      
Taxable income (zero if negative) - Line 260  
  Less dividend gross-up  
  Add back non-taxable portion of capital gains less capital losses carried forward  
  Add back clawbacks (the clawbacks are treated as another tax for the average tax rate calculation)  
Adjusted taxable income (zero if negative) for average tax rate calculation at bottom  
TAX CREDITS (NON-REFUNDABLE UNLESS NOTED OTHERWISE)      
  Taxpayer   Spouse        
  Public transit costs          
* Fed/BC/YT child fitness-max $500 ea. age 16 or less, 18 or less for disabled   Max credit is greater for disabled.
* ON refundable child activity-max $535 in 2013, $540 in 2014, more for disabled  
* MB fitness tax credit - max $500 for up to age 24  
* Fed/BC/MB child arts - max $500 each age 16 or less, 18 or less for disabled    
* NS Sport/recreation amounts - max $500 for each child age 17 or less  
* SK refundable active families benefit-max $150 ea. ages 6 to 17  
  Federal first-time home buyers' tax credit (max $5,000 per qualifying home)  
* SK first-time home buyers' tax credit (max $10,000 per qualifying home)  
  BC Seniors home renovation tax credit-refundable (max $10,000 per home)  
  ON healthy homes renovation tax credit-refundable (max $10,000 per home)  
  Medical expenses-usually best claimed by lower income spouse          
  Charitable donations-usually best claimed by higher income spouse  
  First Time Donor Super-Credit is available only for donations of money, and only if this is the first donation after 2007.  
  Is this the first donation after 2007 for both taxpayer and spouse?          
         
* These are not checked to ensure that the maximum allowable amount is not exceeded.        
  Fitness and activity credits can be split between spouses, are available to greater age for child with disability      
  (except MB, NS and SK), and double the amount is available for child with disability (except NS and SK).      
Medical and donations can be claimed by either spouse-see which one works best.
Donations can be carried forward and used in a future year, or split with spouse.
     
Medical expenses can be claimed for any 12 month period ending in the tax year.      
Homebuyers' tax credit can be shared by spouses - see what works best.      
Students Taxpayer   Spouse        
  Student loan interest (can be carried forward up to 5 years) Sch 1 Line 319          
Unused tuition/education/text amounts from prior year: Federal          
      Provincial          
Resident of different province at the previous year end - use the federal unused tuition/education/textbook amount as the provincial amount, unless moved to ON or PE. If moved to ON from QC use federal amount, otherwise use provincial amount. If moved to PE from QC use federal amount, otherwise use lower of federal or provincial amounts.      
Disabled students - claim full time months for part time months enrolled.      
  Eligible tuition fees              
  Federal education/textbook amounts Part time- # of months      
    Full time - # of months
  Part time      
    Full time      
  Unused tuition/education/textbook amounts before transfers to spouse Federal          
      Provincial          
  Maximum allowable transfer from spouse Federal          
      Provincial          
  Unused amounts to transfer from spouse Federal          
  These transfers show as part of "Amounts transferred from spouse". Provincial          
Tax credits for age, pension, disability, and child (except NS and PE child under 6) amounts are automatically transferred to other spouse if unused.
TAXES AND PREMIUMS Taxpayer   Spouse
        Federal     Federal  
       
  Basic personal amount      
  Spouse/equivalent      
  Age amount (reduced above certain income levels)      
  Senior supplementary (SK)          
  Dependent children under 18 (Fed, YT), SK under 19      
  Amount for children under 6 (NS, NU, PE) = UCCB          
  Family tax benefit (MB)          
  Employment credit amount (Fed/YT)      
  Pension amount      
  Disability amount      
  Child care costs (NL only)          
  Public transit amount (Federal only and YT only)      
  Child fitness amount (Federal, BC, MB, YT), and NS sport/recreation amount      
  Children's arts amount (Federal, BC, MB, YT)      
  Fed/SK first-time homebuyers' amount      
  Employment insurance      
  CPP on empl earnings      
  1/2 CPP on self-empl earnings      
  Tuition, education and textbook amounts      
  Amounts transferred from spouse      
  Student loan interest (see bottom for amount unused)      
  Medical expenses      
  Total amount for non-refundable tax credits (B)      
  Non-refundable tax credits @ (B) x    
  Donations tax credit      
  Tax subtotal before dividend tax credits, zero if negative      
  Ontario provincial surtax 2014 only          
  Enhanced dividend tax credit      
  Small business dividend tax credit      
       
  Additional tax for alternative minimum tax (AMT)      
  Provincial surtax except Ontario 2014          
  Low income tax reduction          
  ON refundable children's activity credit / SK active families benefit          
  BC seniors home reno tax credit / ON healthy homes tax credit - refundable          
  Federal refundable medical expense supplement          
  Federal refundable working income tax benefit          
  Ontario health premium          
           
  Other refundable tax credits available in BC, MB, ON, NU, YT - choose below, and enter the amount of the credit as a NEGATIVE amount (not checked)
     
Income tax payable (refundable if negative)      
Line 420   Line 428
  Clawback payable re EI and OAS Line 422          
  CPP on self-employment income Line 421          
Total payable by taxpayer / (refundable if negative) before deducting taxes paid    
  Total income tax deducted (information slips/instalments) - not CPP/EI premiums include all income tax paid    
  Transfer of withholding tax re pension splitting          
  Adjusted total income tax credits          
Balance payable (refund due if negative) after above payments/credits    
  CPP paid on employment income    
  EI paid on employment income    
Total taxes, clawbacks, CPP/EI premiums    
Net income before taxes / before RRSP deduction    
Net income after taxes / before RRSP deduction          
Tax savings re RRSPs / Marginal tax rate (see note below)      
Average tax rate based on taxable income          
= total taxes, clawbacks, CPP/EI divided by taxable income              
Avg tax rate based on adjusted taxable income          
Note: RRSP contributions by one spouse may also reduce the taxes payable of the other spouse - this is not reflected in the RRSP savings.
When RRSP contributions cause UCCB income to move from one spouse to the other, tax savings re RRSPs are not accurate.
Unused student loan interest          
Donations in excess of 75% of net income - carry forward          
           
Alternative minimum tax (AMT) is estimated based on available information.
This calculator is intended to be used for planning purposes. It does not include every available tax credit. We strive for accuracy, but cannot guarantee it.
Calculations are based on rates known as of July 30, 2014, including changes from provincial budgets.
 

Revised: August 18, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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