Canadian Income Tax Calculator 2024
Calculate your federal and provincial income tax for any Canadian province. See your effective tax rate, marginal rate, and take-home pay after taxes.
Income
Your total income before deductions
Deductions
Reduces your taxable income
Union dues, childcare expenses, etc.
Province/Territory
Net Income (Take Home)
$64,582
after taxes in Ontario
Income Breakdown
Canadian Tax System
Canada uses a progressive tax system, meaning you pay higher rates on higher portions of your income. Your total tax is the sum of federal tax and provincial/territorial tax.
2024 Federal Tax Brackets
- 15% on the first $55,867
- 20.5% on $55,867 to $111,733
- 26% on $111,733 to $173,205
- 29% on $173,205 to $246,752
- 33% on income over $246,752
Effective vs Marginal Tax Rate
Effective tax rate is your total tax divided by your total income - it's what you actually pay overall. Marginal tax rate is the rate you pay on your last dollar of income - it's important for understanding how additional income will be taxed.
Reducing Your Tax
Common ways to reduce your taxable income in Canada include RRSP contributions, charitable donations, medical expenses, and various tax credits. Consider consulting a tax professional for personalized advice.
Important Disclaimer
This calculator provides estimates for educational and informational purposes only. Results should not be considered as tax advice. Actual tax liability may vary based on your specific circumstances, deductions, credits, and current tax laws.
Tax rates and brackets are updated annually. Always consult with a qualified tax professional or accountant for accurate tax planning and filing.