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2016 Income Tax Calculator

This basic calculator is designed to give you a reasonable idea of your tax liabilities but does not include all possible factors or refundable tax credits. It should be particularly useful to investors who can see the impact of the various types of investment income on their taxes as well as the tax savings from contributing to an RRSP. 

The non refundable tax credits that are included in calculations are:

  • Personal Exemption
  • Spousal Exemption
  • Age Exemption (Including SK Senior Supplement)
  • Pension Exemption
  • Employment/Workers & Experienced Workers (Federal, NU & QC)
  • Payroll Deductions (CPP/QPP, QPIP and EI)
  • Eligible Dividends from Canadian Corporations

The following miscellaneous items are included in taxes payable:

  • Refundable Abatement (QC)
  • Provincial Surtaxes (ON & PE)
  • Health Premium/Health Services Fund (ON & QC)
  • Progressive Health Contribution (QC)
  • Prescription Drug Insurance Plan Premium (QC)
  • Temporary Deficit Reduction Levy (NL)
  • Cost of Living Reduction (NU & NT)

For a more comprehensive calculation of tax liabilities we recommend www.taxtips.ca or consult a professional tax accountant.