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
$ 15,737.29
Income Tax
$ 12,506.04
EI Premiums
$ 790
CPP Contribution
$ 2,441.25
After-Tax Income
$ 42,493.96
Average Tax Rate
22.74%
Marginal Tax Rate
29.65%
Canada Federal and Ontario 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% |
| Ontario tax bracket | Ontario tax rates |
|---|---|
| Less than $15,714 | 0% |
| $15,715 to $20,644 | 10.1% |
| $20,645 to $44,740 | 5.05% |
| $44,741 to $89,482 | 9.15% |
| $89,483 to $150,000 | 11.16% |
| $150,001 to $220,000 | 12.16% |
| More than $220,001 | 13.16% |
