Canadian Income Tax Calculator 2014

There are big savings for filing on time even if you can't pay all your taxes right away.

Find out how much 2013 income tax you owe in Canada in one easy step.

If you would like to know the income tax for 2015, 2013, 2012, 2011, 2010 or 2009 see our

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.

Your annual taxable income excluding income from investment such as capital gains and dividends.

1x

Capital gains are profits which result from a disposition of a capital asset including land, buildings, shares, bonds, fund and trust units, where the amount realized on the disposition exceeds the purchase price. The gain is the difference between a higher selling price and a lower purchase price.

50%

Generally, eligible dividends are dividends you have received from big, public companies.

1,38x

Generally, ineligible dividends are dividends you've received from smaller, private companies.

1,18x
Deduction Claimed for Current Year
PROVINCE
TAX CREDIT
TAX PAYABLE
AFTER TAX INCOME
AVERAGE TAX RATE
MARGINAL TAX RATE

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 2013 maximum contribution limits. This actual contribution limit may be higher if there are unused RRSP contributions from prior years.

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511 Comments

  1. Saliha Sheriff 11/25/2014 at 3:27 am

    Hi, Due to typo in the previous posting, I repeat the same as below with corrections.

    I have come to Canada on 9 April 2014, and moved to Alberta on 19 August 2014. Until now, I have no Income/job. I have 4 kids, elder one goes to University, 2 and 3rd goes to school and 4th one at home. As my income is ‘0’, how much tax return will be expected?. It is to be noted that as I am jobless getting support from Alberta works.

    Thanks in advance.

  2. Jean 11/25/2014 at 11:24 am

    I just started doing some contract work for a web development company in New Brunswick (I live in Nova Scotia). No deductions are taken from my pay, so I’m wondering how to find out how much I need to set aside each pay pariod for taxes?

  3. Hi Robin,

    CPP and EI are not taxes and therefore not included in the above calculations.

    The calculator above only determines your income tax liability.

    I hope this has answered your question.

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

  4. Hi Saliha,

    Regardless of your income for 2014, you must file a Canadian Income Tax and Benefit Return to determine your eligibility for benefits and your tax liability or refund.

    To obtain a refund, you would need to have had income and paid income tax through your employer. As you had no employer, but received social assistance through Alberta, you must would not receive any refund, but you are required to report this assistance on the tax return.

    I hope this has answered your question.

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

  5. Hi Jean,

    Your tax reporting requirements are based on where you live.

    Enter your gross anticipated income for the year into the calculator above to determine your tax liability for NS. This is the percentage amount would should set aside for payment at tax time.

    In addition to the income tax, you also need to set aside 10% of your income for CPP contributions.

    I hope this has answered your question.

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

  6. Tomas 12/09/2014 at 9:13 am

    Hello
    I’m a spanish citizen and I’m going to work to QUebec city for a year. I will earn 70000$ per year before taxes. How much I will get after taxes?
    Thank you.
    Tomas

  7. Hi Tomas,

    Enter your gross wages into the calculator above to calculate the tax liability and after tax amount of your pay.

    I hope this has answered your question.

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

  8. Gen 03/11/2015 at 10:15 am

    Hi, I have just filed my taxes and I am concerned as to why the CRA has reassessed my 2013 taxes. If it doesn’t matter who claims the dependents, why do they keep changing it so that my husband claims them, causing me to owe a balance? I don’t understand, why an entire year later they reassess my last year taxes and are now charging me not only a balance but also arrears when I wasn’t aware I owed anything until this week, when they decided to reassess my taxes. Can you advise me as to why the CRA is doing this and if there is anything I can do? Thank You

  9. Hi Gen,

    Unfortunately, the tax advice/information you received about “If it doesn’t matter who claims the dependants” is very INCORRECT. There are specific rules by CRA and it DOES matter who can claim the dependants.

    It seems that whomever filed your income tax return, over-rode the rules and filed incorrectly… we suggest you return to whomever (tax return preparer) it was that filed your tax return as they would be responsible for any penalty and interest you incurred as a result of the reassessment.

    It generally takes CRA a year to match all information slips to the tax returns and compare spousal tax returns. The CRA can reassess a tax return they have found to be filed incorrectly up to three years after the filing date.

    I hope this has answered your question.

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

  10. Joe 12/13/2016 at 11:51 am

    Hi
    I am going to start receiving my CCP and Old age pension/I would like to work for another year my income from work is 46000.00
    I will be receiving around 23000.00 for my CCP and old age pension.per year. Is it worth it for me to continue working or shall I retire? how much will I be taxed for 2016.
    Thank you
    Regards
    Joe

  11. Hi Joe,

    We are not able to provide you with an answer to your question as to whether you should work or retire… that is totally up to you.

    If you would like the money, it would be an idea to work, if you are able.

    As for tax, you have provided insufficient details… please use this calculator to determine your tax payable:
    link to lsminsurance.ca

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

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