Best Income Tax Calculator
Estimate your 2021 total income taxes with only a few details about your income
Employment Income
Other Income All other incomes such as rental income, interest, EI, and CPP.
Capital Gains
Eligible DividendsAn qualified dividend is a taxable dividend paid by a Canadian public company, earned by a resident Canadian citizen.
Ineligible DividendsAn qualified dividend is a taxable dividend paid by a Canadian private company, earned by a resident Canadian citizen.
Results
Total Income
$ 55,000
Total Tax
$ 18,032.52
Income Tax
$ 14,801.27
EI Premiums
$ 790
CPP Contribution
$ 2,441.25
After-Tax Income
$ 40,198.73
Average Tax Rate
26.91%
Marginal Tax Rate
35%
Canada Federal and Newfoundland tax brackets 2021
Your taxable income places you in the following tax brackets.
| Federal tax bracket | Federal tax rates |
|---|---|
| Less than $13,229 | 0% |
| $13,230 to $48,535 | 15% |
| $48,536 to $97,069 | 20.5% |
| $97,070 to $150,473 | 26% |
| $150,474 to $214,368 | 29% |
| More than $214,369 | 33% |
| Newfoundland tax bracket | Newfoundland tax rates |
|---|---|
| Less than $19,372 | 0% |
| $19,373 to $37,929 | 8.7% |
| $37,930 to $75,858 | 14.5% |
| $75,859 to $135,432 | 15.8% |
| $135,433 to $189,604 | 17.3% |
| More than $189,605 | 18.3% |
