If you have income from sources other than employment, use our tax calculator. Since self-employed income, capital gains, eligible and non-eligible dividends, and other income are taxed differently, this calculator will show you how much taxes you’ll have to pay. The calculator includes most deductions and tax credits and can assist with your income tax planning.
Enter your income from employment, eligible and non-eligible dividends, capital gains, and other income, and see the payable for every province and territory. The calculator will also display the average tax rate and marginal tax rate.
Usage of the Tax Calculator
- Select the tax year: the tax calculator is updated with 2022 federal and provincial taxes.
- Select the province: you can choose all the Canadian provinces and territories from the list. The calculator is updated with British Columbia, Yukon, Alberta, Northwest Territories, Nunavut, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Newfoundland and Labrador, Nova Scotia and Prince Edward Islands tax rules.
- Enter your income from all sources. Make sure that you are entering your income to the proper fields: employment income, self-employment income, capital gains, eligible dividends, ineligible dividends and other income.
- Based on your inputs the calculator will estimate your payable taxes. The calculations are approximate and include the following non-refundable tax credits: the basic personal tax amount, CPP/QPP, QPIP and EI premiums and the Canada employment amount.
- If you have contributed to your RRSP during the tax year, enter the amount to the calculator. This will show how your contribution reduces your taxes. Note that you can’t contribute more than your contribution limit, what you can see on your Notice of Assessment.
- If you have already paid taxes during the year (e.g. taxes withheld from your payslip), enter that amount to the calculator, and it will show you how much taxes you still owe or how much refund you can expect.
Explanation of income types
Employment income: this type of income is defined as the money received by an individual from their employer.
Self-employment income: Business income includes income from any activity you carry out for profit or with reasonable expectation of profit. You may have self-employment income from a business, a profession, commission, farming, or fishing.
Capital gains: capital gain is an increase in the value of an investment (such as stocks or shares in a mutual fund or exchange traded fund) or real estate holding from the original purchase price.
Eligible dividends: any taxable dividend paid to a resident of Canada by a Canadian corporation that is designated by that corporation to be an eligible dividend. Most dividends paid by public corporations are eligible dividends.
Ineligible dividends: non-eligible dividends are any dividends issued by a Canadian corporation, public or private, which are not eligible for the eligible dividend tax credit.
Reduce your taxes
RRSP deduction: enter the amount of RRSP contribution that you paid during the tax year.
Income taxes paid: if your employer deducted taxes during the tax year, enter the amount here.
- If you are planning to move to India and you want to know that how much taxes you’ll need to pay, use this Indian Income Tax Calculator.