Canadian Income Tax Calculator 2010

There are big savings for filing on time even if you can't pay all your taxes right away.
Find out how much 2009 income tax you owe in Canada in one easy step.

If you would like to know the income tax for 2012, 2011, 2009 see our 2012 income tax calculator, 2011 income tax calculator, 2009 income tax calculator or go back to 2013 income tax calculator.

Don't forget to file your taxes on time. There are big savings by filing on time, even if you can't pay all your taxes right away.

These calculations do not include non-refundable tax credits other than the basic personal tax credit.

These rates give you a basic of idea of how much tax you should pay, but depending on your employment and business and personal circumstances you could pay a lot less. Be sure to visit a competent tax advisor before filing your return.

The RRSP contribution limit is based on 2010 maximum contribution limits. This actual contribution limit may be higher if there are unusued RRSP contributions from prior years.

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211 Comments

  1. Hello,

    Unfortunately, there is no deduction or tax credit available to you for rent paid.

    I hope this has answered your question.

    Regards,
    Storoszko & Associates
    Tax Specialists
    http://www.storoszko.net
    647 367 3477

  2. Deepesh Mazumder 09/07/2011 at 9:38 pm

    Hi,
    I stay in toronto and earning CAD 65000/year.I will be leaving Canada for job purpose before 31st december.Will that make any change to the (federal non-refundable) basic personal amount calculated for me and my spouse(line 300 and line 303)for 2011 tax refund purpose.

    Thanks in advance,
    Deepesh

  3. Hi Deepesh,

    Any changes to the exemption amounts would depend on your tax status as of Dec 31st.

    Upon leaving Canada, will you be terminating your residency by definition for tax purposes? If so, yes; if not, no.

    I hope this has answered your question.

    Regards,
    Storoszko & Associates
    Tax Specialists
    http://www.storoszko.net
    647 367 3477
    Twitter: link to twitter.com

  4. ted pearson 11/08/2011 at 11:18 am

    How would I get the results of income splitting by Province?

  5. Hello Ted,

    Using the above calculator, because there are many variations of income splitting (i.e. pension, rsp, family, etc.) you would need to do it manually. Otherwise you would need to obtain a software programme to do this for you.

    I hope this has answered your question.

    Regards,
    Storoszko & Associates
    Tax Specialists
    http://www.storoszko.net
    647 367 3477
    Twitter: link to twitter.com

  6. Richard Adler 05/07/2012 at 3:13 pm

    I’m thinking of moving my mother company from Ontario to Alberta….what savings if any would there be % or use !00,000 of net income by such a move. This is an invstment company pay the highest rate of tax.

    Also, moving certain investments from my mother (as a loan) will decrease her income and allow her to receive OAS, but the corporate tax (she remains in Ontario) is higher so there is a trade off…..complicating this is the RDTOH account which may reduce taxes payable (corporately) so is is a good idea to move these investments to the company (assuming it remains in Ontario)? RA

  7. Tan 05/08/2012 at 1:06 am

    Dear Sir,

    Thanks for your earlier and useful response. A few follow-up questions are:

    1. How do you calculate the market price of a property that you have inherited from your parents?
    2. Should you decide to sell it, how do you calculate capital gain for the purpose of paying capital gained tax?

    Best regards,
    JT

  8. Hi Richard,

    Your question is beyond the usual topic for this forum, but I will provide you with short response.

    Investment income earned by a corporation is roughly taxed at the top personal rate. In Ontario, this is 46.4% in Alberta it’s 39%. Moving the corporation to Alberta would see a net savings of 7.4%.

    The clawback is a bit of a challenge because we have to assess the cost of moving the assets to the corporation, the tax differential in the corporation, the long-term tax issues with drawing from the corporation and whether it’s worth it to save $6,480. It may or may not be.

    The bigger issue is moving the corporation. If it’s a federally incorporated business, you can register an office in Alberta (there must be an office there to do this). The corporation may come under scrutiny for the move and there is a risk of reassessment.

    If the corporation is not a federal corporation, the issue gets a little more complex and then there will be a need to look at other alternatives.

    I suggest you contact a Certified Tax Planner for more information.

    I hope this has answered your question.

    Regards,
    Storoszko & Associates
    Tax Specialists
    http://www.storoszko.net
    647 367 3477
    Twitter: @Storoszko_Assoc

  9. Hi JT,

    Answers to your questions:
    1) the value is determined by the estate at probate
    2) the capital gain is the difference between the value received at sale and the value at acquisition.

    I hope this has answered your question.

    Regards,
    Storoszko & Associates
    Tax Specialists
    http://www.storoszko.net
    647 367 3477
    Twitter: @Storoszko_Assoc

  10. lynn 08/11/2012 at 3:14 pm

    hi.how much do i have to pay for my income tax if i earned 25,391 in 2010 ?and i forgot to fill out my interest and other investment income.[line 121] it’s $2.060.I’ve paid them $2440.36 before.
    now with $2.060 from my interest how much do i have to pay more?MY TOTAL INCOME IS 25,395+2.060=27.451
    THANKS A LOT

  11. Hi Lynn,

    If you forgot to include income information from 2010, CRA would have done a cross review by this time and would have issued you a reassessment to let you know of the amount due.

    If CRA has not contacted you, best to advise them of the error for you to avoid legal problems in the future.

    An exact calculation cannot be made here as the amount due will include late filing interest and possibly penalties.

    I hope this has answered your question.

    Regards,
    Storoszko & Associates
    Tax Specialists
    http://www.storoszko.net
    647 367 3477
    Twitter: @Storoszko_Assoc

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