| What's This? |
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Click here to enter "What's This?" mode. In "What's This?" mode, help is available on many of the terms in this calculator by placing the mouse over the term. Click again to turn off "What's This?" mode. |
| Province of Residence |
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Select the province you lived in at the end of the year. Provincial tax rates used in this calculator will be based on the year and province selected. Once selected, you can change the province using the up and down area keys. This facilitates comparing rates in various provinces. Note: Results for Quebec may not be accurate if your taxable income on your provincial return is not equal to your taxable income on your federal return. |
| Tax Year |
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Select the tax year you are interested in. Rates are accurate as of information available. |
| Taxable Income |
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Enter your estimated taxable income for the taxation year selected. Tax rates are progressive - which means that the rate increases with your income level. Taxes are based on the taxable income you enter. This calculator assumes that you are eligible for the basic personal amount but does not take into account other credits to which you may be entitled. The calculated marginal tax rates will still be accurate except where your credits exceed your taxable income. |
| Taxes Payable |
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This row in the table shows the taxes due on the taxable income you entered for the tax year and province you selected. The only credit included in this calculation is the basic personal amount. If you are entitled to additional credits, they will reduce your federal and/or provincial taxes. |
| Average Tax Rate |
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This row in the table shows the average federal and provincial tax rates for each dollar of your taxable income (and the total). This is calculated by dividing taxes payable by taxable income. |
| Marginal Tax Rate - Ordinary Income |
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This row in the table shows the rate of tax you will pay on the next dollar of ordinary income. Ordinary income includes all types of income except Canadian source dividends and capital gains. |
| Marginal Tax Rate - Dividend Income from Small Corporations |
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This row in the table shows the rate of tax you will pay on the next dollar of income from dividends from small Canadian Corporations. Dividends are "grossed up" by multiplying the actual amount by 125% before entering on your tax return. This grossed-up amount is eligible for the Dividend Tax Credit. The Federal rate is 13.3333%. Each province and territory sets their own credit rate. |
| Marginal Tax Rate - Dividend Income from Large Corporations |
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This row in the table shows the rate of tax you will pay on the next dollar of income from Canadian source dividends paid by public corporations. Dividends are "grossed up" by multiplying the actual amount by a factor (145% for years before 2010) before entering on your tax return. This grossed-up amount is eligible for the Dividend Tax Credit. The Federal rate was 19% prior to 2010. Each province and territory sets their own credit rate. |
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| Marginal Tax Rate - Capital Gains |
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This row of the table shows the rate of tax you will pay on the next dollar of capital gains income. Currently only one-half of your calculated capital gains are taxable. This rate was reduced to one-half from three quarters in 2000. |