Canadian Tax Calculator 2018 - 2019
Want to get an idea of what your tax liability may look like this year? Our income tax calculator can help you easily find out approximately how much you’ll be getting back, or how much you may owe. By entering your income earned, and selecting the taxing entity, you can calculate your tax amount. Keep in mind that you most likely are being taxes from more than one entity, for example Federal and Provincial. Therefore, it will be necessary to make more than one calculation and add them together for your total taxes owed.
These values are for informational purposes only and are not guaranteed to be completely accurate. Federal taxes are collected by the Canada Revenue Agency (CRA), formerly known as "Revenue Canada" or the "Canada Customs and Revenue Agency". Under "Tax Collection Agreements", CRA collects these taxes then remits to the provinces: Canadian Tax Rates
The Canada Revenue Agency is the Canadian equivalent of the United States Internal Revenue Service. If you are a resident of Canada you are required to file a Canadian income tax return provided you earned money in Canada.
Tax season can be a good or bad time of year depending on whether you owe more income taxes, or if your one of the lucky ones getting a big refund back.
With our Free Canadian Tax Calculator you can take the fear out of bad surprises by making sure you know ahead of time what to expect when it's time to prepare and file your tax return.
Plus, on top of that you can use this tool all year long to make sure your not paying too much, or not paying enough throughout the year to balance out near even at year end with the CRA.
Try Our Free Canadian Tax Calculator
Select Taxing Entity = Federal, Province, Territory
Nobody likes penalties and interest charges so by estimating your taxes several times throughout the year you can be sure your paying enough income tax payments to avoid last minute surprises of underpayment income tax charges.
Free TurboTax Canadian Income Tax Refund Calculator For The 2017 - 2018 Tax Season
TurboTax offers Canadian Tax Software along with many other tax season tools to help Canadian tax filers stay on top of their tax filing tasks all year long.
One of those tools is the TurboTax Canadian Tax Calculator. With this tool you can estimate your annual tax refund based on your province.
It's simple to use, all you need to do is enter your income and, if applicable, the amount of taxes paid so far, along with your Registered Retirement Savings Plan (RRSP) contribution.
Hey, Need a better way to manage your annual tax bill? It's always better to know your financial responsibilities ahead of time.
Don't let your tax bill spiral out of control. Keep track of your income tax obligations so that you know what you owe at all times and you will be much better at managing your extra cash in order to meet those income tax obligations without surprises.
Calculating Federal, Provincial, and Territory Taxes
Most tax payers earn a salary where taxes are deducted automatically on a bi-weekly basis and therefore may not necessarily have to manage their payment of taxes. This may exclude independent workers, freelancers or entrepreneurs, ho may need to predict how much is owed to the government and make those payments themselves. It is important for taxpayers to have a realistic view of their annual income and to understand how much is really available to them after income taxes have been taken out, or paid. Our income tax calculator might come in handy to you for this purpose.
Our tax calculator has now been updated for the 2018 - 2019 tax season. This is for income earned in 2018 where taxes are being paid by April 2019.
It uses the official Canadian income tax rates from the Canada Revenue Agency web site for its calculations, along with province and territory tax rates to calculate all taxes owed from each entity as needed. This calculator is updated every year with the new yearly rates, but also retains the past several years for back tax calculations.
The personal income tax system in Canada is progressive, meaning that higher income is taxed at a higher income tax rate percentage. This is implemented through different levels of tax brackets each relating to different tax rates. Our calculator includes the ability to calculate federal, provincial, and territory taxes.
Don't forget to subtract tax deduction amounts from your annual income to get your net income before calculating taxes. Also reduce your tax owed amount by the amount of taxes already paid before sending in your payment.
Canadian Provinces and Territories
Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia. Ontario, Prince Edward Island, Quebec, Saskatchewan, Northwest Territories, Nunavut, Yukon