The purpose of this calculator is to show the breakdown of each tax bracket based on your total income and deductions. I'm not an accountant. I'm not even good with math. Do not use this as a source of truth.
Use a program like WealthSimple (previously SimpleTax) to figure out your specifics, tax refund, and even submit your taxes online.
Rates come from the CRA's Canadian income tax rates for individuals page.
Rates are for tax year 2024. Updated Apr 17, 2024
| Tax rate | Bracket | Tax paid |
|---|---|---|
| 15% | First $55,867 | $0.00 |
| 20.5% | $55,867 - $111,733 | $0.00 |
| 26% | $111,733 - $173,205 | $0.00 |
| 29% | $173,205 - $246,752 | $0.00 |
| 33% | $246,752+ | $0.00 |
| Total | $0.00 | |
| Tax rate | Bracket | Tax paid |
|---|---|---|
| 5.05% | First $51,446 | $0.00 |
| 9.15% | $51,446 - $102,894 | $0.00 |
| 11.16% | $102,894 - $150,000 | $0.00 |
| 12.16% | $150,000 - $220,000 | $0.00 |
| 13.16% | Amount over $220,000 | $0.00 |
| Total | $0.00 | |