Canadian income tax calculator - the best of!

70

By ForrestDrake

How much will you pay on income taxes?
How much will you pay on income taxes?

Time to pay your income taxes in Canada is coming closer (end of April, for those who are asleep!). Your due tax amount shouldn't surprise you - it can be a lot of money! In case you have no idea how much are you going to pay our state on taxes, we offer you selection of the five most reliable Canada income tax calculators. Calculating your taxes is not an easy task, so these financial tools can be quite handy.

Probably the best one you can find online. Simple design and intuitive use, suitable for all provinces. LSM also provides online help for any specific tax questions, answered by a tax professional.

Very complex calculator, which goes much deeper than the previous choice. All fields are explained, so if you want to enter really detailed information, this is choice for you. If you don't have time or mood to fill in dozens and dozens fields, try something else.

This is the opposite extreme, compared to the TaxTips calculator. You just choose your province, and write in your income. Very simple. Maybe too simple - however, if you need quick estimation (and you know you have no deductibles), you can try it.

Very clean design, reasonably broad range of variables - this one can help. However, there is no explanation, so if you don't know what's 'Dividend gross up', you may get lost.

This calculator from one of the Big4 companies offers simple design and enables you to enter your taxable income only. However, it offers nice outlay of:

  • Tax Payable
  • After-Tax Income
  • Average Tax Rate
  • Marginal Tax Rate
  • Marginal Rate on Capital Gains
  • Marginal Rate on Eligible Dividends
  • Marginal Rate on Ineligible Dividends

And that's for every province!

But remember, these calculators can help you to estimate your tax obligations, but doesn't serve as 100% correct way to state your income taxes.

Will you pay more on your income taxes this year?

  • Yes, more
  • No, less
  • About the same
See results without voting

Comments

Neil Sperling profile image

Neil Sperling Level 5 Commenter 14 months ago

Tax freedom day is mid June in Canada..... not a nice thought. Keep on writing

Submit a Comment
Members and Guests

Sign in or sign up and post using a hubpages account.



    • No HTML is allowed in comments, but URLs will be hyperlinked
    • Comments are not for promoting your Hubs or other sites

    Please wait working