Canadian Income Tax Calculator 2012

There are big savings for filing on time even if you can't pay all your taxes right away.
Find out how much 2011 income tax you owe in Canada in one easy step.

If you would like to know the income tax for 2015, 2014, 2013, 2011, 2010 or 2009 see our 2015 income tax calculator, 2014 income tax calculator, 2013 income tax calculator, 2011 income tax calculator, 2010 income tax calculator or 2009 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 2012 maximum contribution limits. This actual contribution limit may be higher if there are unusued RRSP contributions from prior years.

Terms of Use - Disclaimer

1,166 Comments

  1. Hi Catalina,

    Enter your gross ANNUAL salary into the calculator above to determine your tax liability. In entering your information, you will see the difference between your tax liability for QC and ON.

    I hope this has answered your question.

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

  2. Hi Kimberly,

    When your husband requests the grossed up income amount, he means to ask you for your gross salary amount before you went on disability.

    I hope this has answered your question.

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

  3. Walter 12/20/2012 at 2:07 pm

    Hello;

    I am considering employment on a project which would entail working about 50% of the time in Panama and 50% in Canada (i.e. fortnightly trips between the two countries). What would my income tax situation be in each of the respective countries, and would there be an advantage in getting paid either in Panama or in Canada?
    Thank you very much,
    Walter

  4. Abdelazeem 12/21/2012 at 1:57 am

    I am working on Ontario. My annual income is 45000 $. I have two dependents ( my wife does not work, My son – 4 years old).
    I have a work permit.
    I need to know:
    – what is my salary after tax?.
    – Can I refund the tax Tax and how?

    Best Regards

  5. Scott 12/23/2012 at 6:27 pm

    I am a US citizen who is going to be working in Canada on a 3 year assignment. I will be making $140,000 a year. What are my taxes going to be?

  6. Steve 12/27/2012 at 10:46 am

    I worked a total of 4 different jobs this year 2012, made 55000,

    Looks like i over paid the ei by 150, and the cpp by about 500,

    my total tax deducted was 10751,

    Am i payng ?

  7. Marta 12/29/2012 at 7:55 pm

    Hi,
    I´ve been working in 2 companies during 2012.
    From January to March I was on payroll and I earned about $4000 (after deductions).
    From March to October, my employer was paying me by cheque without any deductions so, I´m guessing I was working as self-employed. I earned about $14000.
    From October to December I´ve been working for the same employer on payroll earning $6000 (after deductions).
    How do I need to fill my taxes? Do I need to pay anything to CRA?

    Thank you for your time.

  8. Hi Walter,

    Based on the information you provided, you would be equally working in Canada and Panama. As a result, you would be taxable for your world-wide income in Canada.

    Regardless of where you are paid, the tax is determined by your permanent residency.

    I hope this has answered your question.

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

  9. Hi Abdelazeem,

    To answer your question, enter your gross salary into the calculator above to determine your tax liability. Compare the result with the total tax deducted for 2012. The the calculated number is higher, you owe tax; if the number is lower, you are entitled to a refund.

    You claim any tax refund by filing the annual Tax and Benefit Return which is due in April.

    I hope this has answered your question.

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

  10. Hi Scott,

    Yours is not an easy question as you will be subject to both Canadian and US income taxes.

    Enter your gross salary into the calculator above to determine your tax liability. This is the maximum Canadian tax you will be liable to pay. Any differences in your tax situation (ie. credits, etc.) would be reconciled when you file a Canadian tax return next year.

    As a US citizen, you are also required to file a US tax return to report your world-wide income. In your case, you will need to file the Canadian tax return first to determine your Canadian income and tax paid and you will then report this on your US return (due June 15) taking a foreign tax credit for all the Canadian tax paid.

    Depending on your tax situation in the US, you may be partially taxable or not at all for the Canadian income.

    For your assurance, it would be best you consult with a tax service firm which specialises in situations like yours so to reduce your overall tax payable. Our firm specialises in cases such as yours.

    I hope this has answered your question.

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

  11. Hi Steve,

    Without more details, I can’t be specific… best to enter the $55000 into the calculator above and compare the calculated tax payable to that which was deducted from your pays.

    Likely, you will receive a refund.

    I hope this has answered your question.

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

  12. Hi Marta,

    Firstly, you need to wait for your employer to issue your T4 slip to see exactly how they recorded your income.

    If your T4 reflects only the portion when they were applying deductions, then the remaining income would need to be reported as other income or self employment income depending on the type of work you performed.

    I hope this has answered your question.

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

  13. Mariska 01/06/2013 at 3:50 am

    Hi- I worked until mid feb of 2012, then went on EI for a short term disability and then a long term disability for the remainder of the year. I paid my LTD deductions 100% – my employer paid non. Besides the weeks i worked – am I expected to pay taxes on the EI earnings? My LTD earning?
    Who should I get slips from beside my employer?

    Thanks

  14. Jon 01/06/2013 at 2:56 pm

    Hello,

    I am looking at working overseas and I am aware that USA has a tax exemption on the first $xxxxx amount of income provided the US resident is out of country for greater than 330 days out of the calendar year. I am curious as to if Canada has something similar? Thanks,
    Jon

  15. Hi Mariska,

    Based on the info you provided, you should verify the actual types of payment you received by contacting your employer’s HR or benefit office.

    EI is NOT short term disability payments. EI payments received would be for Sick Pay benefits.

    Short term disability payments come from your benefit plan insurance company as does your LTD payments. Short term disability payments last about a year then LTD kicks in if you are still unable to return to work.

    Unless your plans differ, the EI income is taxable as is the STD payments from your benefit insurance company (if the STD premiums were paid by your employer). Once you end your STD term, LTD payments would start and these are non-taxable (if you paid the premiums 100% yourself).

    To answer your question, any taxable income will be reported on T-slips by your employer, EI and your benefit insurance company.

    I hope this has answered your question.

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

  16. Hi Jon,

    Canada does have a foreign income exemption available to certain industries. Application for this exemption is done through your Canadian employer overseas.

    If you intend to work for a non-Canadian employer, the earnings will be taxable in the country you work and only taxable/reportable in Canada if you are permanently living outside of Canada for at least 183 days during the calendar year.

    I hope this has answered your question.

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

Skip to
second column

Leave a Reply

 

Head Office: 2900 John Street Suite #302 Markham, L3R 5G3
Office 1-866-899-4849, 905.248.4849 Fax 905.300.4848


© LSM Insurance Services Ltd. 1998-2017




Translate »