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

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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.

Regular Annual Income: Your annual taxable income excluding income from investment such as capital gains and dividends. 1x Capital Gains: 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% Eligible Dividends: Generally, eligible dividends are dividends you have received from big, public companies. 1,38x Ineligible Dividends: Generally, ineligible dividends are dividends you’ve received from smaller, private companies. 1,18x Total Annual Income: RRSP: Deduction Claimed for Current Year Taxable Income: PROVINCE TAX CREDIT TAX PAYABLE AFTER TAX INCOME AVERAGE TAX RATE MARGINAL TAX RATE Alberta British Columbia Manitoba New Brunswick Nova Scotia Newfoundland Labrador Northwest Territories Nunavut Ontario Prince Edward Island Quebec Saskatchewan Yukon