Type amounts into yellow
cells. Tab or use your mouse to click
on the next cell.
Amounts are recalculated
automatically when you tab out of a cell or click elsewhere with your mouse,
or click the Calculate button.
Choose your
province
AB
BC
MB
NB
NL
NS
NT
NU
ON
PE
SK
YT
Choose tax year
Tax Year
2020
To open links without
closing the calculator, right-click on the link and select open in new
window.
Taxpayer
Spouse
Combined
Taxes Payable
Birth year
Taxpayer
Spouse
Birth month (needed for
CPP premiums if turning 18 or 70 during year)
1
2
3
4
5
6
7
8
9
10
11
12
1
2
3
4
5
6
7
8
9
10
11
12
Fed
Are you eligible to claim the disability
amount tax credit?
Y
N
Are you single? (must be
"N" to calculate spouse tax)
Y
N
Total
Are you eligible to claim the Canada
Workers' Benefit (formerly WITB)?
Y
N
<- Grand Total
Do you have dependants or caregiver credits to
claim, or disability transfer from dependant?
Y
N
INCOME
Taxable Income
Income
from:
Federal Line#
Taxpayer
Spouse
Taxpayer
Spouse
Employment (T4 box 14)
10100/10400
Are you required to pay EI
premiums on ALL the above earnings (up to annual max)?
Y
N
Y
N
If you answered "N" above, please enter
the insurable amount of your earnings, if any, below:
EI insurable earnings
Are you required to pay CPP
contributions on ALL the above earnings (up to annual max)?
Y
N
If you answered "N" above, please enter
the pensionable amount of your earnings, if any, below:
CPP pensionable earnings
Employment insurance regular
benefits (EI) (T4E box 15, if rate in
box 7 is 30%)
Canada Emergency Response Benefit (CERB) net of
repayments
Canada Response Benefit (CRB) (subject to clawback)
net of repayments
Canada Response Sickness Benefit (CRSB)
Canada Response Caregiving Benefit (CRCB)
Old Age Security (OAS) (T4A(OAS) box 18)
11300
CPP/QPP retirement or disability pension (T4A(P)
box 20)
11400
# months in year collecting CPP pension
0
1
2
3
4
5
6
7
8
9
10
11
12
0
1
2
3
4
5
6
7
8
9
10
11
12
If you are 65 to 70 and collecting CPP, please
indicate the # of months, if any, for which
you are
electing to NOT make CPP contributions in the year
0
1
2
3
4
5
6
7
8
9
10
11
12
0
1
2
3
4
5
6
7
8
9
10
11
12
Self-employment income
(include bus. income/loss from rentals)
13500-14300
CPP pensionable self-employment earnings
Capital gains in excess of capital losses (zero if
negative) - actual, not taxable
Cdn dividends eligible for
enhanced div tax credit (T5 box 24)
Actual divs
Cdn non-eligible dividends (T5
box 10)
Actual divs
RRSP/RRIF withdrawals (when not eligible for
pension tax credit)
Other income (EI special benefits, interest,
foreign dividends, some pensions, etc)
Pension income (eligible for
pension tax credit for persons 65+)
Qualified pension income
(eligible for pension credit for any age)
Qualified pension
income (eligible for pension tax credit even if taxpayer is under 65)
includes - life annuity payments from a
superannuation or pension plan - pmts from a RRIF, or annuity
pmts from an RRSP or from a DPSP, received as a result of the death of a
spouse or common-law partner.
Workers' compensation
benefits (box 10 on the T5007 slip)
14400
Social assistance
payments
14500
Net federal
supplements (box 21 on the T4A (OAS) slip)
14600
Workers'
compensation, social assistance and net federal supplements are included
above, and deducted below to arrive at taxable income.
NS Seniors with GIS income on
line 146 and provincial taxes payable on line 428 may get a refund of tax.
Subtotal
Do you have pension income that you would like to
split?
Y
N
Pension splitting - maximum allowable is 50% of
eligible pension income. Make sure
birth year entered for both Taxpayer and Spouse.
Taxpayer
Spouse
Number of months married or living common-law
0
1
2
3
4
5
6
7
8
9
10
11
12
A.
Total pension income eligible for pension tax
credit (based on age)
Maximum pension amount transferable (50% x A/12 x
#months married)
Amount that you are electing to transfer - from
taxpayer to spouse
Amount that you are electing to transfer - from
spouse to taxpayer
Transfer of pension income Line 116
$ from taxpayer to spouse
$ from spouse to taxpayer
Any resulting
additions to pension income are shown here, and reductions to income are in
deductions area on Line 210.
After pension splitting - pension income eligible
for pension tax credit
Transfer of tax withheld from pension
income that is eligible for pension splitting :
The tax deducted from pension income should
also be included in the "Total income tax deducted" (at
bottom).
Total tax withheld from pension income (A above) of
taxpayer
Total tax withheld from pension income (A above) of
spouse
Total income for
tax purposes - line 15000
DEDUCTIONS
Taxpayer
Spouse
RRSP deduction
20800
Other deductions (RPP, union dues, child care,
interest expense, etc.)
Child care costs - not checked to see if exceeding
limits
21400
Deduction for elected split-pension amount
21000
Deduction for enhanced CPP
contributions on employment income
22215
Deduction for enhanced CPP contributions on
self-employment income
22200
Deduction for 50% of CPP contributions on
self-employment income
22200
Net income before
adjustments (for calculation of clawbacks, zero if negative) - Line 23400
Clawback of EI and OAS including Net Federal
Supplements
23500
Clawback of Canada Recovery
Benefit (CRB)
23500
Net income for tax
purposes - Line 23600
Workers' compensation, social assistance, federal
supplements deduction
25500
Net capital losses of other
years - check inclusion rate
25300
Non-capital losses of other years / Capital gains
deduction
25200/25400
Northern residents deduction -
not checked - use Form T2222
25500
Taxable income
(zero if negative) - Line 26000
Less dividend gross-up
Add back non-taxable portion of capital gains less
capital losses carried forward
Add back deductions for
regular & enhanced CPP contributions (treated as another tax for the
average tax rate calculation)
Add back clawbacks (the clawbacks are treated as
another tax for the average tax rate calculation)
Adjusted taxable
income (zero if negative) for average tax rate calculation at bottom
TAX CREDITS (NON-REFUNDABLE AND REFUNDABLE)
Click on links for more information on each tax
credit
Taxpayer
Spouse
*
Public transit costs: ON only,
for 66+ in year, refundable
Digital subscriptions to QCJOs
(Fed, max $500)
Child Fitness
Amounts
*
Refundable YT child
fitness-max $1,000 ea up to age 16
*
MB fitness tax credit - max $500 for up to age 24
Child Arts Amounts
- click on link for more information
*
MB/YT child arts
Home Buyers / Home
Renovations
Federal first-time home
buyers' tax credit (max $5,000 per qualifying home)
Federal home accessibility tax
credit (max $10,000)
SK first-time home buyers' tax credit (max $10,000
per qualifying home)
BC Seniors home renovation tax credit - refundable
(max $10,000 per home)
NB Seniors home renovation tax
credit - refundable (max $10,000 per home)
Tuition/education
transfer from 1 or more children or grandchildren
*
Transfer of Federal
tuition/education amounts from current year
Maximum transfer $5,000 per student
*
Transfer of Provincial tuition/education amounts
from current year
*
These are not checked to ensure that the maximum
allowable amount is not exceeded, but ON seniors' transit amount is checked
for age.
Political
Contributions
Federal political
contributions
Provincial political
contributions
Medical Expenses /
Charitable Donations
Medical expenses-usually best
claimed by lower income spouse
Charitable donations-usually best claimed by higher
income spouse
Donations carried forward from prior years
Donations in current taxation year
Max donations = 75% of net income. Does not account
for % increase re donated capital property.
Fitness and activity
credits can be split between spouses, are available to greater age for child
with disability
(except MB), and
double the amount is available for child with disability.
Medical and donations can be claimed by either spouse-see which
one works best.
Medical expenses
can be claimed for any 12 month period ending in the tax year.
Homebuyers' tax
credit can be shared by spouses - see what works best.
Tax credits for age, pension, disability, and family caregiver
for infirm minor children (Fed/YT) are automatically transferred to other
spouse if unused.
Do you want to claim student loan interest,
tuition, or education/textbook amounts?
Y
N
Students
Taxpayer
Spouse
Student loan interest (can be
carried fwd up to 5 years)
31900
Unused tuition/education/text
amounts from prior year:
Federal
Provincial
Resident of different province at the previous
year end - use the federal unused tuition/education/textbook amount as the
provincial amount, unless moved to AB, ON or PE.
If moved to AB or ON from another province you CANNOT claim unused tuition
and education amounts. If moved to PE
from QC use federal amount, otherwise use lower of federal or provincial
amounts.
Disabled students - claim full time months for
part time months enrolled.
Eligible tuition fees -
Federal
See above re transfer from child/grandchild
Eligible tuition fees - Provincial
Provincial education /
textbook amounts
Part time
0
1
2
3
4
5
6
7
8
9
10
11
12
0
1
2
3
4
5
6
7
8
9
10
11
12
Full time
0
1
2
3
4
5
6
7
8
9
10
11
12
0
1
2
3
4
5
6
7
8
9
10
11
12
Unused
tuition/education/textbook amounts before transfers to spouse
Federal
Provincial
Maximum allowable
transfer from spouse
Federal
Provincial
Unused amounts to transfer from spouse
Federal
These transfers
show as part of "Amounts transferred from spouse".
Provincial
TAXES AND PREMIUMS
Taxpayer
Spouse
Federal
Federal
Basic personal amount Line 30000
Age amount (reduced above
certain income levels)
Spouse/equivalent, plus family caregiver amt
(Fed/YT) if applicable Line 30300/30400
Can. caregiver amt for spouse
(Fed/BC/YT), or eligible dep. age 18+ (Fed/BC/ON/YT) Line 30425
Note that line
30425 is reduced by any amount claimed on lines 30300/30400
Canada/BC/ON/YT Caregiver amount age 18+ Line 30450
Family caregiver amount for infirm minor children
Line 30500 (Fed/YT)
Amount for infirm dependants age 18+ (other than
Fed/BC/ON/YT) Line 58200
Caregiver amount (other than Fed/BCON/YT) Line
58400
SK dependent children under 19 Line 58210
Senior supplementary (SK) Line 58220
Amount for children under 6 (NS, NU, PE) Line 58230
Family tax benefit (MB) Schedule MB428-A Line 61470
Employment insurance Lines 31200
CPP on empl earnings
(excluding Enhanced CPP deducted above) Line 30800
1/2 CPP on self-empl earnings (excluding Enhanced
CPP deducted above) Line 31000
Pension amount Line 31400
Canada employment credit amount (Fed/YT) Line 31260
Child care costs (NL only) Line 58320
Child fitness (MB) Line 58325
Children's arts amount (MB, YT) Line 58326
Fed/SK first-time homebuyers' amount Line 31270
Federal digital subscription tax credit for QCJOs
Federal home accessibility tax credit Line 31285
Disability amount for self Line 31600
Disability amount transferred from a dependant Line
31800
Tuition, education and textbook amounts Line 32300
Tuition /education amounts transferred from a
child/grandchild Line 32400
Amounts transferred from spouse Schedule 2 Line
32600
Medical expenses Line 33099
Student loan interest (see bottom for amount
unused) Line 31900
Subtotal for non-refundable tax credits (B) Line
33500
Line 33800 Non-refundable tax credits @ (B) x
Donations tax credit Schedule 9 Line 34900
Total non-refundable tax credits before dividend
tax credits Line 35000 (C)
Tax subtotal before dividend tax credits Line 40400
(A) - (C)
Ontario provincial surtax
Dividend tax credit for eligible dividends Line
40425
Dividend tax credit for non-eligible dividends Line
40425
Less minimum tax
carryover (enter as positive)-only used if zero AMT current year
Non-refundable political contribution tax credit
Line 41000
Net Federal
tax (or AMT, whichever is more, zero if negative) / Prov add'l tax
Provincial surtax except Ontario
Tax reduction - non-refundable, can't exceed tax
prior to reduction
ON low income individuals and families tax (LIFT)
credit - non-refundable
NS age tax credit for low income seniors -
non-refundable
Ontario health premium
Provincial or territorial tax (zero if negative)
BC/NB seniors refundable home reno tax credit
ON/NU refundable political contribution tax credit
ON refundable seniors' public transit tax credit,
if age 66+ in tax year
ON refundable CARE childcare credit
YT refundable child fitness tax credit
Federal refundable medical
expense supplement Line 45200
Federal refundable Canada Workers Benefit Schedule
6 Line 45300
Climate Action Incentive (CAI)
- AB, MB, ON, SK - claim for taxpayer
or spouse, not both
Enter as negative amt
Enter as
negative amt
Other refundable tax credits available for any province or
territory - choose below (not
mandatory to choose anything), and enter the amount of the credit as a
NEGATIVE amount (not checked)
Choose
refundable tax credit, if applicable:
BC
Mining Exploration Tax Credit Form T88
BC
Training Tax Credit Form T1014
BC
Venture Capital Tax Credit Certificate
SBVC10
MB
Education Property Tax Credit
MB
School Tax Credit and others Form MB479
ON
Political Contribution Tax Credit
ON
Flow-through Share Tax Credit Form T1221
ON
Apprenticeship Training Tax Credit
ON
Co-operative Education Tax Credit
NU
Political Contribution Tax Credit
YT
Political Contribution Tax Credit
YT
Small Business Investment Tax Credit
Certificate YSBITC-1
YT
Labour-Sponsored Venture Capital Corporation
Tax Credit
YT
First Nations Income Tax Credit
Income tax payable
(refundable if negative)
Clawback payable re EI and OAS and CRB
Line 42200
CPP & enhanced CPP payable on self-employment
income
Line 42100
Total taxes,
clawbacks & CPP (refundable if negative)
before
deducting taxes paid
Total income tax deducted (information
slips/instalments) - not CPP/EI premiums
include all
income tax paid
Transfer of withholding tax re pension splitting
Adjusted total income tax credits
Balance payable
(refund due if negative) after above payments/credits
Summary of Total
Taxes, Clawbacks, CPP & EI for Average Tax Rate Calculation
Taxpayer
Spouse
Clawback payable re EI and OAS and CRB
CPP & enhanced CPP payable on self-employment
income
CPP & enhanced CPP paid on employment income
EI paid on employment income
Total taxes,
clawbacks, CPP/EI premiums
Tax savings re
RRSPs / % tax savings - see note below re marginal tax rate
Adjusted taxable
income for avg tax rate calculation
Average
tax rate based on adjusted taxable income
= total taxes &
clawbacks (not CPP/EI )
divided by adjusted taxable income
Notes: To determine your
marginal tax rate put your actual RRSP deduction into "Other
deductions", and enter $10 in the RRSP deduction field. The % tax savings is your marginal tax
rate.
Unused student loan
interest
Donations in excess
of 75% of net income - carry forward
Alternative minimum tax (AMT) is estimated
based on available information, and is only useful as it relates to capital
gains and Canadian dividends.
This calculator is intended to be used for
planning purposes. It does not include
every available tax credit. We strive
for accuracy, but cannot guarantee it.