Canadian Income Tax Calculator 2015
There are big savings for filing on time even if you can’t pay all your taxes right away.
Find out how much 2015 income tax you owe in Canada in one easy step.
If you would like to know the income tax for 2014, 2013, 2012, 2011, 2010 or 2009 see our
Remember that some life insurance types impact your overall tax situation. For example, whole life insurance or universal life insurance are typically the best for a single individual, as the growth of cash in these policies is tax-deferred as long as your deposits don’t violate the maximum tax accrual rules.
When you are married, a permanent joint last-to-die life insurance policy might work very well. It pays out a tax-free benefit to the policy owner’s beneficiary when the second spouse registered on the policy passes away.
A small tip: 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 2013 maximum contribution limits. This actual contribution limit may be higher if there are unused RRSP contributions from prior years.
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