Income Tax Calculators Canada
June 15th, 2007
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Question: How much tax will I pay / get back (canada)?
Sorry, I know this kind of thing is asked a hundred times, but all the calculators I’ve seen on the internet say different things when I feed them my info, so I just thought I’d ask some people who might actually know.
Okay, so I live in Ontario, I made 32158.29 from my job last year and paid 5145.12 in income tax and 419.10 in union dues.
I also recieved 3256.00 in EI benifits and paid 392.00 in income tax
Finally, I put 1000.01 into an RRSP.
Will I get a refund and, if so, how much will it be?
Thanks to the first poster.No dependants, no… anything else really. All other info is normal. No deductions or expenses.
Answer: using the E+Y tax calculator located at http://www.ey.com/GLOBAL/content.nsf/Canada/Tax_-_Calculators_-_2007_Personal_Tax
Your income for tax purposes is: $33,995.18
(Employment Income + EI – Union Dues – RSP)Which in ontario should be subject to $5,199 in taxes. Which should result in your getting a $338 return
Are you saving enough for retirement?
These online calculators will help you figure that out
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