Tax estimator

This is a basic tax estimator for taxes in all provinces and territories.

The estimator is for a generic single and childless individual, between the ages of 18 and 65 at the set year, not necessarily you or your client. To consider your individual circumstances, you need to run the TIME MACHINE.

The estimator considers the Basic personal amount (including the Enhanced personal amount announced for 2020) and the Employment credit amount, as well as CPP/QPP and EI contributions. It also considers surtaxes, the Ontario health tax, the Working Income tax benefit, and the Ontario LIFT credits.

Values are shown in future dollars.

The TIME MACHINE uses this calculator, which indexes future tax amounts, but it also takes into account your actual age, your marital status and any children, and many additional tax credits.

The Tax estimator and TIME MACHINE assume that all current and approved government taxes and other rules will apply indefinitely and that tax brackets and amounts are indexed to inflation. This is not realistic for the future, of course, but we cannot make guesses about tax changes. We will apply all changes to legislation, as quickly as possible, so that you can update your financial plan if necessary.

The result will only be an approximation of taxes payable.