Canadian Financial and Income Tax Calculators
Let our free Canadian calculators assist you in your income tax planning and financial planning. Our detailed income tax calculators include most deductions and tax credits, and can help you determine how much you should contribute to an RRSP to save income tax.
Printing or other calculator problems, information re data retained by calculators - see notes at bottom of page.
The detailed income tax calculators include the calculation of most available deductions and tax credits for single person or couple. They also show how much you will save from your RRSP contribution.
- For all provinces and territories except Quebec, for 2008 to 2021 tax years.
- Available for the 2009 to 2021 tax years.
- Simple, includes only basic personal exemption and dividend tax credits, no deductions.
- Enter your income from Canadian eligible and non-eligible dividends, capital gains, and other income, see taxes payable for every province and territory, as well as your marginal tax rate for Canadian eligible and non-eligible dividends, capital gains, and other income. Shows results for several years for a single person, includes the basic personal exemption and dividend tax credits.
- For all provinces & territories.
- See the big difference in income taxes payable with different types of investment income. See how total taxes can be reduced even as the OAS clawback is increased.
Calculate the tradesperson's tools deduction and apprentice mechanic's tools deduction, as well as the adjusted cost of employee tools, and amount to include in income when tools are sold (if there has been a previous tool deduction taken for the sold tools). See our article on Employee Tools Deductions for more information.
TFSA, Retirement Income, RRSP and RRIF Withdrawal Calculators
Input your investment total to see how long your money will last at different rates of return.
The CPP retirement pension calculator will show you how much Canada Pension Plan (CPP) retirement pension you will collect, depending on the age at which you decide to start collecting.
This calculator can help you decide which type of account is better for you.
Determine before-tax income, minimum withdrawals, how long your RRIF will last. Use if you haven't yet transferred to a RRIF, also works for RRIFs already set up. This calculator includes the RRIF factors as revised by the Federal 2015 Budget, with an option to use the old factors. The old factors are for RRIFs set up after 1992.
RRIF Withdrawal Calculator - discontinued
This calculator used RRIF factors which are no longer in effect. The RRIF factors are now the same regardless of when the RRIF was created. Use the above RRSP/RRIF Withdrawal Calculator.
Calculators re Debt / RRSPs
See how you can save interest.
Should you borrow to contribute to RRSPs?
Should you pay down your mortgage, or contribute to an RRSP?
Monitor your financial progress.
See the big difference in income taxes payable with different types of investment income. See how total taxes can be reduced even as the OAS clawback is increased.
How long will it take to double your investment? This calculator will tell you.
See the advantages of borrowing to invest in stocks/ETFs. Works for all provinces and territories, including Quebec.
What returns are you getting on your investments? For individual investment, or an investment account.
What do you need to invest today to achieve the desired amount in the future?
The Detailed Canadian Tax & RRSP Savings Calculator now uses a new Print feature, and the 2-page (you may have to reduce size to print on 2 pages) summary of results can be printed in colour. If you want to print the results in colour, it seems you'll have to use either Chrome, Edge, Firefox or Vivaldi. In Chrome, Edge or Vivaldi, once you click the Print button, choose More settings, and tick "Background graphics". The preview should change from black and white to colour. Your printer or pdf printer settings should also be set to print in colour.
We'll be adding this feature to our other calculators as time goes on. We've also added this feature to:
You can either use the Print button of the calculator, or, depending on your browser, right-click and choose print preview, or use the browser print function. If you use Chrome, Vivaldi, Edge or IE, the results should print properly. Firefox at the moment seems to have a problem printing, and may not print all data. If the results don't all print on one page width, from your browser menu do File Print, Preferences, Advanced, Fit to paper size. This setting may not be available for all printers. You should also get to the same settings by choosing "Print using system dialogue" after clicking the Print icon in the calculator. When in IE, there is also a printer icon at the top where you can choose Print, Print Preview, or Page Setup. In Page Setup, make sure "Enable Shrink-to-Fit" is ticked. However, I'm sure this was ticked already when the pages didn't all fit on the page for me.
We would like the print function of our calculators to only print the calculator data, and not the headings, footings, or ads. We requested this feature from the software providers, and they have now provided it. We're starting to convert our calculators to use this function. You'll know as soon as you click on the Print button whether this feature is included. It is included so far in only in the CPP Retirement Calculator, which has the results in colour. If you want to print the results in colour, it seems you'll have to use either Chrome or Vivaldi. Once you click the Print button, choose More settings, and tick "Background graphics". The preview should change from black and white to colour.
PLEASE NOTE: If a calculator doesn't seem to be working for you, or looks messed up, please clear your browser cache and try again. In Chrome: hold down the ctrl and shift keys, then touch the delete key, select cached images and files to be cleared, set the time range (longer is better) then click clear data. This usually has to be done if there has been a significant change in a calculator, sometimes has to be done for a minor change.
Note re Internet Explorer: You may have to use compatibility view to view and print some of our 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.
Some of our calculators will retain information for the next time you use them - if you don't want this to happen (perhaps you're on a public computer), click the Reset button before closing the web page. If you want the information to be retained, ensure that your browser is set appropriately:
Tip: Create a Chrome new profile to save 2 sets of data from a calculator.
If you are using a calculator for more than one person, in Chrome you can create a 2nd profile (or more) for that person, so that the data for each person will be remembered. To do this, just click on your profile photo near the top right of your screen, and click Add, to add a new profile.
Revised: December 10, 2021
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